Oil market sentiment is decidedly cautious this week as covid cases climb and U.S. crude inventories increase.Friday, August 6th, 2021Despite the Friday trading session recovering somewhat from this week’s aggregate declines, the overarching sentiment on the oil markets is still that of caution, seeing China and the United States confronting COVID-19 case surges. Whilst tensions in the Persian Gulf added a new layer of geopolitical upside risk for prices, this was largely counteracted by the week-on-week hike in US crude inventories.Biden…
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