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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (118288)	1/4/2022 1:54:47 PM
From: Goose94	Read Replies (1) \| Respond to of 203630

Crude Oil: WTI and Brent Sentiment Shifts In Oil Markets As Demand Fears Fade There has been a noticeable shift in sentiment in the oil market, with an increasing number of forecasts stating that demand destruction coming from the Omicron variant would not be as bad as previous variants due to the absence of widespread lockdowns. Sure enough, cases have been climbing in key areas, but governments are reluctant to repeat 2020/2021 policies again. Oil demand remained solid in December, essentially trending on par with November levels, whilst global manufacturing activity strengthened globally amidst easing supply chain bottlenecks. Thus, the bullish case for more OPEC+ crude is by no means paradoxical, especially when one considers all the supply-side disruptions in Libya and elsewhere. As a result, ICE Brent traded moved above the $80 per barrel threshold this week, whilst US benchmark WTI was hovering around $77.5 per barrel. Oilprice.com