Crude oil price advanced this Wednesday to a two-month high despite a big rise in U.S. gasoline inventories. The rise comes after U.S. Federal Reserve Chair Jerome Powell said that he believes the economic impact of the Omicron variant to be short-lived and sees the U.S. economy as strong enough to comfortably weather rate hikes. The positive news is that Rystad Energy announced this week that investments in the oil and gas sector should rise 4% to $628 billion in 2022, from $602 billion in 2021, amid ongoing recovery from the pandemic. There are also expectations that the global crude supply is running ahead of ... (full story)