Tue, 25 May 2021 | Written By: Alec Malloy
Alec Malloy is a content writer with over 7 years’ experience spanning a range of commercial sectors.
Optimistic demand recovery fuels oil prices
Commodities
Oil markets are in a good mood this week so far. Prices are up alongside demand recovery. Natural gas, on the other hand, is about to transition into cooling season. Prepare for a bumpy gas price ride.
Oil trading
WTI had cleared $65.50 and was knocking on the door of $66.
Brent oil’s performance was similar. The contract had passed the $67 level and was now trading at $68.20.
Fuel demand is rising in tune with OPEC+’s optimistic outlook forecasts. Increased personal travel, reopening of economies, and largely successful vaccine rollout in key crude importers, is generally helping prices keep above $60.
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