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Oil Rises Most in Weeks Swept Up in Broader Market Enthusiasm
Bloomberg
2/1/2021
Andres Guerra Luz
(Bloomberg) Oil rose to the highest in more than two weeks, lifted by broader market strength and optimism over demand recovering this year.
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Futures climbed 2.6% in New York on Monday, the largest jump in about three weeks, with the S&P 500 rebounding from the worst selloff since October. Meanwhile, Saudi Aramco sees oil demand returning to pre-Covid levels later this year, saying it is confident the worst of the pandemic is now in the rearview mirror.
Royal Dutch Shell Plc raided the North Sea physical oil market on Monday in a forceful trading play, buying the most cargoes of benchmark grades in a single day in 10 years in the S&P Global Platts pricing window. ....

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