Related Articles
Forward article link
Share PDF with colleagues

Oil's bulls running into inflation worries

A bull run that looked set to push oil above $100/b has met resistance

Despite investment-bank forecasts for triple-digit crude, inflation in China and tepid US economic data, especially on the jobs front, have given bears some encouragement. But an outlook for rising Asian demand keeps the market in contango. Front-month Brent, trading in London on 24 January at $97.60/b, retains a sharp premium to WTI, which has slid beneath $90/b. The differential reflects the market's unease about the US' economic recovery as well as supply outages in the North Sea. Increased supplies to the US of Canadian heavy crude has also softened WTI and pushed stocks higher. For the week ending 14 January, US crude inventories rose by 2.6m barrels, to 335.7m barrels. A correction to

Also in this section
The price is right
5 April 2018
With the help of thirsty consumers and collapsing Venezuelan output, the market seems at last to have found its range
Opec and IEA bristle at Trump's trade posturing
16 March 2018
The IEA and Opec say Trump’s trade plans are a threat to global growth
Five key takeaways from the big three oil market reports
15 March 2018
Demand and supply data still diverge, Venezuela’s increasingly critical to balances, and some macro alarm bells are starting to ring