Oil Rally Stumbles On OPEC+ Uncertainty ...Middle East

A rally that pushed oil prices higher than they were immediately before the pandemic struck has faltered on uncertainty around OPEC+ and a stronger dollar. Hedge fund oil buying reflected the changing fortunes of oil, turning from net buyers to net sellers in the six most popular oil and fuel contracts, Reuters' John Kemp reported in his latest weekly column. That put an end to 15 straight weeks of buying, Kemp noted. Besides the obvious factors that affect oil prices, such as the upcoming OPEC+ meeting that could result in an agreement to boost…

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