China Demand Anticipation Raises Oil Price
The actions of crude traders can be unpredictable and volatile. Information and news about oil supply or demand can set off a torrent of trades. This happened once more as China said it will increase energy imports this year. It…
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The actions of crude traders can be unpredictable and volatile. Information and news about oil supply or demand can set off a torrent of trades. This happened once more as China said it will increase energy imports this year. It is impossible to couple that with what will happen in Iran, the Strait of Hormuz, of even Saudi Arabia. Nevertheless, Brent crude prices rose $.84 to $122.82. Another modest piece of news could send the price rocketing higher, or nearly collapsing. Oil trades have shown that analysis to be true.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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