Will Crude Hit $120 Again? | OilPrice.com
A number of bullish factors could push oil prices higher in the next few weeks, but uncertainty surrounding an EU ban or tariff on Russian crude could keep prices down
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A number of bullish factors could push oil prices higher in the next few weeks, but uncertainty surrounding an EU ban or tariff on Russian crude could keep prices down
As the EU continues to talk about a possible embargo on Russian crude, several agencies have lowered demand growth forecasts for 2022 as they signal an increasingly difficult macro-economic environment
Crude oil prices are up this week due primarily to the release of the European Union’s plans for new sanctions against Russia
While the massive SPR release as announced by U.S. President Biden will have short-term bearish effect, the supply situation in global crude markets remains tight
A number of bearish factors piled up this week in oil markets, but the longer-term bias remains bullish, and the risk for crude remains skewed to the upside