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Crude Rallies to 4-Month Highs, Further Upside may be Limited
Crude Price Rally On US-China Trade Deal To Be Limited
Crude futures hit successive new four-month highs through the second half of March, but the ascent was jagged, with each price surge bringing a wave of sell-off in its wake. Prices are in a tug-of-war between lingering global growth concerns on the one hand, and supportive supply fundamentals on the other, as OPEC and allies tighten supply.
The saga of the US-China trade negotiations continues to dominate investor sentiment but much of an imminent agreement has already been priced in, through growing optimism.