Oil outlook sours as sanctions, global tensions fail to bring out bulls
Sentiment in the oil
market has shifted dramatically in recent days, with hedge
funds, producers and traders all taking a more bearish tack in
response to what they see as weakness in worldwide demand.
The oil market has struggled to sustain a rally despite
supply restrictions that generally would be considered bullish.
U.S. sanctions on Venezuela and Iran have removed more than 1.5
million barrels of
market has shifted dramatically in recent days, with hedge
funds, producers and traders all taking a more bearish tack in
response to what they see as weakness in worldwide demand.
The oil market has struggled to sustain a rally despite
supply restrictions that generally would be considered bullish.
U.S. sanctions on Venezuela and Iran have removed more than 1.5
million barrels of
Posted by Reuters
