Or more to go? Oil prices are on the rise again after a correction over the last month but how much support does it now have? It didn’t take long for oil to rebound after the US, China, India, Japan, UK and South Korea announced their coordinated SPR release. A sign that the market had fully priced in the announcement, perhaps even that it isn’t the game-changer it was sold to be. The bigger threat to oil prices is lockdowns and restrictions, as we’re now seeing emerge again in Europe and that could potentially cap prices in the near term. Unless, of course, OPEC+ responds in kind to the actions of the consuming ... (full story)