Oil ETNs Surge as Brent Approaches $120 Amid Middle East Tensions

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According to Goldman Sachs, on July 26, oil-linked ETNs surged in July as escalating Middle East tensions pushed international crude prices higher. The investment bank forecasts Brent crude could exceed $120 per barrel in the fourth quarter if regional conflicts intensify further. Energy-related stocks also rose in tandem with the crude price rally.
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