71 days ago • Posted by Paul de La Baume
Oil stages comeback. How high can it go? #trading #oil
WTI Crude oil has staged a strong rebound since we highlighted it last week. The banking stress had worried traders about the demand outlook but after regulators stepped in to help Credit Suisse and US banks, the market has been regaining confidence. Dollar weakness, a day after the Fed hiked interest rates to 5%, is also helping WTI Crude climb above $71pb.