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Oil's underpriced upside risk threatens the crypto rally, CITIC warns
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Oil's underpriced upside risk threatens the crypto rally, CITIC warns
In a recent note, CITIC Securities warned that the oil market may be underpricing near- and medium-term risks, with immediate consequences for cryptocurrency investors already worried about inflation pressures and tighter financial conditions amid the closure of the Strait of Hormuz. The note from China’s leading investment bank warned that weeks of enforced well shut-ins may cause irreversible damage to production capacity, while low US drillin…
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