WTI surges back above $100 per barrel as focus returns to Russia supply shortage, China fears ebb By Frank_Macro Oil WTI China RussianFederation
Oil prices have seen a strong rebound on Thursday, with front-month WTI futures surging nearly $8.0 to the $102s.
As for the catalysts behind Thursday’s rally, there hasn’t been one clear headline or factor driving the rebound, but analysts have put forth a number of explanations. Firstly, uncertainty regarding whether or not Russo-Ukrainian peace talks can actually come up with a ceasefire to end the increasingly brutal war remains highly elevated. Conflicting reports with various news outlets citing different sources make it difficult for investors to unpack what’s actually going on.
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