WTI Breaks $55 For The First Time Since January 2020 ...Middle East

OILPRICE - Economy
WTI Breaks $55 For The First Time Since January 2020
source : OILPRICE ( Middle East ) () 18
Did the 'Reddit-Raiders' suddenly shift their crosshairs onto the energy complex? The last few days have seen WTI Crude surge over 6%......topping $55 this morning for the first time since Jan 2020. Source: Bloomberg The catalysts for the move is uncertain amid mixed data from OPEC - on the bullish side, compliance with planned cuts was extremely high; on the bearish side, the cartel cuts its oil demand growth outlook to 5.6mm b/d (down from previous 5.9mm b/d), but back on the bullish side, the Saudis and their friends see…

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