The Oil Market Has Seemed Skeptical
The Oil Market Has Seemed Skeptical: Tyler Richey Quoted in Morningstar
Oil prices finish higher as traders weighs risks tied to U.S. airstrikes
The oil market has “seemed skeptical of the potentially positive demand implications of the recent string of strong economic data,” though prices did move up in the wake of the better-than-expected ISM report, Tyler Richey, co-editor of Sevens Report Research, told MarketWatch.
As far as what to watch for this week, Richey said a rise in consumer demand for refined products metrics in the weekly Energy Information Administration report due out Wednesday would be a bullish development, while a return to record U.S. oil output would be “negative for prices in the near term.”
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