Not much in the way of fresh news over the weekend for oil. not that it needs it to rally at present it seems.
Reuters have a bit of a summary of trading so far for the new week, which of course has only just begun
- Oil prices ... supported by tightening supply and strengthening sentiment
- Front-month Brent crude futures ... almost a third above 2016 lows from mid-February, when prices hit levels not seen since 2003
- U.S. West Texas Intermediate (WTI) futures were trading ... up.... 40 percent above February lows
- "U.S. shale producers continue to pull rigs from the ground in an effort to conserve capital" says ANZ, and "Short-covering in commodities continues to push prices higher. This week's slew of economic data releases in China, however, will determine if this rally continues"
