OTC MARKET NEWS Powered By Quantifi

Crude oil gets some respite as skeptics turn optimists 

July 18, 2017

ET Markets, Jessica Summers

"After the worst June for oil in six years, hedge-fund bets on declining West Texas Intermediate retreated. That made room for futures to rebound more than 5 per cent last week on optimism that the summer will finally boost demand for crude and gasoline. 

“The market is starting to recognize that demand is a little better than what has been the consensus view so far this year,” Matt Sallee, who helps manage $16 billion in oil."

Read more


Comments are closed on this post.


Submit your email to receive our newsletter