December Oil Stability May Shift in January

As the year draws to a close, data has shown that oil prices have moved in the narrowest range since 2019, suggesting the excessive volatility of the past three years is over. A perception of soft demand and one of abundant supply, even on hold, have contributed to the “calm waters” on the market. The question now is whether it would extend into the next year. First, on the demand front, news from China has led oil prices this year. Since the news has overwhelmingly been seen as overall negative by commodity trading advisers and their…