Crude prices softened as stagflation risks have risen for the US and as China’s reopening hits a major roadblock as Shanghai is expected to lock down seven districts this weekend. The oil market remains very tight, but the short-term crude demand outlook took a bit of a hit today.
Whatever weakness emerges for crude will likely be short-lived as this will be one of the busiest driving seasons ever. The pent-up demand for vacation and travel will be front-loaded and demand for crude will be r
09-06-2022 14:37 GMT
by Edward Moya
