Oil’s Back Above $80 But It’s Not a Healthy Market
Demand growth remains weak, while supply increases continue to surprise.
Tankers off Djibouti in the Bab-el-Mandeb Strait, which connects the Gulf of Aden with the Red Sea.
Photographer: Luke Dray/Getty Images Europe
Welcome to Energy Daily, our guide to the energy and commodities powering the global economy. Today, Oil Strategist Julian Lee discusses prospects for the crude market following recent price gains. To get this newsletter sent straight to your inbox, you can sign up here.
Oil prices are creeping higher, but it’s probably too early for the bulls to cheer.