bullish
Supply Tightness, Robust Demand Could Push Crude Oil Prices Into Triple Digit Territory
646 Views11 Sep 2023 10:01
Supply constraints & robust demand have pushed oil to all time high for the year. Continued tightness, rising demand, & receding recession fears will continue to push oil prices higher.
Boomeranged on Thu, 28 Sep 2023 12:12
Oil prices surged nearly 3% to a fresh 10-month high yesterday, approaching $100/barrel, as Energy Information Administration (EIA) reported lower than expected inventory in the US.
Latest report from the EIA points to US commercial crude oil inventories shrinking inventory of crude oil which dropped by 2.2 million barrels week-on-week.
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