U.S. oil benchmark 'extremely vulnerable' to profit taking after surge above $90 a barrel: SocGen

The U.S. oil benchmark may be prone to a near-term pullback, say analysts at Société Générale on Monday.

Speculators have been quick to chase a breakneck rally in crude futures. Now, the U.S. benchmark may be prone to a near-term pullback, warned analysts at Société Générale on Monday.

November Brent crude BRN00, -0.03% BRNX23, -0.03% rose 50 cents, or 0.5%, to close at $94.43 a barrel. It’s up more than 31% from its 2023 low.

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