Energy prices outperformed last week as huge decline in US crude inventory raised hopes of tighter supply/demand balance. The front-month WTI crude oil contract resumed the recent rally, after sliding over the past 2 weeks, and gained +3.24% on weekly basis. The Brent crude contract also rose +2.52% last week with price breached above US$50/bbl at some points.
Go here to read the rest:
Weekly Fundamentals – Oil Rallied on Hopes of Tighter Fundamentals, USD also Lent Support
Leave a Reply
You must be logged in to post a comment.