Crude oil prices extended its recent winning streak with Brent crude futures trading at roughly 6-week highs. While the improved risk sentiment amid Chinese policy easing has underpinned prices in recent sessions, the latest catalyst had stemmed from the appointment of the Saudi King’s son, Prince Abdulaziz bin Salman, as the new energy minister. Markets reacted positively to this announcement on hopes that production cuts could be extended, particularly following comments from the Prince that the OPEC+ alliance will be in place for the long term. That said, Prince Abdulaziz is expected to face mounting pressure from ... (full story)