Bearish Sentiment Is Building In Oil Markets Once Again

A combination of climbing Covid infections in China, uncertainty about the G7 oil price cap, and a build in U.S. oil inventories pushed oil prices lower this week. While oil prices did climb early on Friday morning, the build-up of bearish sentiment is palpable.Friday, November 25th, 2022 With the oil price cap set to come into effect in just 10 days, the oil markets are desperately awaiting any clarification on the price limit’s actual details. The European Union convened to align on a joint oil price cap, but talks broke down as members…