Oil at $100?

Author: Giles Coghlan | Category: News

Growing voices for higher oil

Some reasons for oil to remain bullish as follows. Eamonn has been well on this all week. 

  • India sales have rebounded in 1h of June
  • US/Iran deal not progressing well
  • COVID-19 vaccines are going well - less of a link between infections and hospitalisations/deaths
  • Lack of supply noted
  • Inventories keep falling - another private inventory last night
  • Market shrugs off OPEC+ sources looking to increase supply from August
Reasonable to expect intraday buyers at $71.50 with stops below support
Growing voices for higher oil
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