Oil Surge To $80 Shows Long-Awaited Market Tightening Is Here

Jul 16, 2023 (Bloomberg) –Betting on a tighter oil market has been a bad trade for most of this year. But there are signs it’s finally paying off.

After languishing for months, crude surged above $80 a barrel in London last week as fuel demand in China and elsewhere recovers from the pandemic to reach new highs.

View entirety: gCaptain