13 days ago • Posted by William Ramstein
Are we about to see Brent pass the $70 line ?
Brent soared more than a third this year partly due to a broad rally across raw materials that has seen the commodity Spot Index surge to its highest level in almost ten years. Investors are betting that rising vaccine-aided demand and greater mobility in key economies will drain crude stockpiles and support higher prices. That’s meant oil has extended gains in recent weeks even amid the serious virus flare-ups in Asia.