Oil rallies on tight supplies
Oil prices are rallying as last week’s selloff was overdone given how the short-term crude demand outlook remains for the US and China. The oil market remains too tight over the short-term and rising expectations over tougher sanctions with Russian crude should keep demand especially strong here.
Energy traders saw oil prices slide almost 15% in just a week, despite a very tight market. The paid-for crude prices wasn’t justified and more of a reflection of the r
21-06-2022 14:06 GMT
by Edward Moya
