What’s Moving In Oil?Rupert Hargreaves
The price of Brent crude charged through the key $50 a barrel level this week and pushed higher to around $52.75/bbl in early trade on Thursday morning before sliding back to $49.50/bbl in trade on Friday afternoon. The very fact that oil has recovered to this level, a level not seen since November last year, helped current degree of optimism in the oil sector.
However, away from the headline price movement the fundamentals of the petroleum industry remain mixed, as Credit Suisse’s June 8 Flowing Oil Chartbook highlights.
Oil market events
The main . . .
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