Oil Steadies Near $95 as Risk-Off Mood Vies With Upward Momentum
- Crude surges after Riyadh says OPEC seeks to stabilize markets
- Forecasts for return of $100 crude proliferate as prices climb
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Oil steadied after surging to a 10-month high as broader risk-off sentiment cooled a piping hot rally driven by OPEC+ supply cuts and comments from Saudi Arabia’s energy minister shying away from any change in course.
Shrinking supplies have ignited a flurry of predictions that $100 oil could return on a roster than includes industry heavyweights such as Chevron Corp. Chief Executive Officer Mike Wirth and traditional bears at Citigroup Inc.