The front-month WTI crude contract rose above US$ 50/bbl again on Thursday and settled at a 3-week high of US$ 50.6/bbl, up +5.48%, for the week. The contract appeared to have found a bottom at US$ 47.01 last week. Brent crude oil rebounded after briefly breaking below US$50/bbl last week. The front-month contract rallied for 4 consecutive day and ended the week at US$ 52.83/bbl, up +4%.
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Weekly Fundamentals – Oil Rallied but Concerns over Fundamentals Remain
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