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Britannia Expands Energy Offering With New Hires And Approval Of ICE Futures Europe Membership
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CORRECTED-Oil bears and bulls grapple as market puzzles over pandemic exit
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Oil bears and bulls grapple as market puzzles over pandemic exit
By Noah Browning
Reuters
LONDON (Reuters) - Trading in oil futures is now as heavy as it was in the first months of the COVID-19 crisis, according to market data and analysts, with oil bulls and bears rushing to hedge against jolts in the steady rise of prices.
Oil futures have already recovered to pre-pandemic levels, with Brent crude futures spiking $55 in less than a year to $70 a barrel this week while actual fuel demand remains weak.
But speculation over when and if people will begin to travel and commute as they once did is driving dueling bets in the market and historic volumes of trade.
Oil bears and bulls grapple as market puzzles over pandemic exit By Noah Browning
FILE PHOTO: Oil tankers are pictured in the waters off Tuas in Singapore
LONDON (Reuters) – Trading in oil futures is now as heavy as it was in the first months of the COVID-19 crisis, according to market data and analysts, with oil bulls and bears rushing to hedge against jolts in the steady rise of prices.
Oil futures have already recovered to pre-pandemic levels, with Brent crude futures spiking $55 in less than a year to $70 a barrel this week while actual fuel demand remains weak.
But speculation over when and if people will begin to travel and commute as they once did is driving dueling bets in the market and historic volumes of trade.
Oil bears and bulls grapple as market puzzles over pandemic exit
Trading in oil futures is now as heavy as it was in the first months of the COVID-19 crisis, according to market data and analysts, with oil bulls and bears rushing to hedge against jolts in the steady rise of prices.
Oil futures have already recovered to pre-pandemic levels, with Brent crude futures spiking $55 in less than a year to $70 a barrel this week while actual fuel demand remains weak.
But speculation over when and if people will begin to travel and commute as they once did is driving dueling bets in the market and historic volumes of trade.
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