Oil’s weeks-long downtrend has
not yet been broken, as of the
time of writing. A confluence of
negative market projections in
the U.S. and a slowdown in
China, among other factors,
could be the cause.
Oil prices have been rising over
the past week, with both Crude
and benchmark Brent Oil on an
upward trend. The beginning of
summer as well as rebounding
Chinese demand could be the
proximate causes.
Oil dropped after the U.S. asked
some of the biggest
Oil-consuming countries to join
it by tapping into stockpiles to
manage global energy prices,
according to people familiar
with the matter.
