Oil’s Emerging Strength Doesn’t Guarantee a Rally
Prices appear to have found a floor above $80 a barrel, but breaking through $90 will be hard.
Fuel storage tanks in Jakarta.
Photographer: Bloomberg
Welcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, OPEC reporter Grant Smith analyzes the latest moves in the oil market, while Bloomberg Opinion’s Marcus Ashworth sees fresh records for gold. To get this newsletter in your inbox, sign up here.
Oil markets may be showing renewed signs of strength, but that doesn’t guarantee a rally is brewing.