Oil Achieves Two Month High As Supply Glut Clearance Met With Cheers And Anxiety
Oil Achieves Two Month High As Supply Glut Clearance Met With Cheers And Anxiety by Ship & Bunker News Team Wednesday May 12, 2021 A U.S. government report showing domestic crude inventories falling to their lowest since late February lent support to the contention that the world has largely worked off its Covid lockdown induced surplus - and as a result, oil prices on Wednesday rose to an eight-week high. Brent rose $69.32 per barrel (the highest close since March 11), while West Texas Intermediate rose 80 cents, or $66.08. However, the cyber attack on the Colonial Pipeline continu...