Light crude oil futures surged more than 8% this week, driven by aggressive short-covering and geopolitical risk after the U.S. slapped new sanctions on Russia’s top oil exporters. However, despite the sharp rally, underlying supply and macroeconomic concerns continue to cap the upside, keeping traders cautious about the sustainability of the move. The week began with crude trading near multi-month lows as sentiment remained firmly bearish. Concerns about oversupply, a deteriorating demand outlook, and a structurally bearish contango in the…
Hence then, the article about oil prices soar on u s sanctions despite weak fundamentals was published today ( ) and is available onOILPRICE ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Oil Prices Soar on U.S. Sanctions Despite Weak Fundamentals )