Money Managers Turn Bullish on Oil

Sentiment in oil markets remained very bearish for most of 2024 amid fears of weakening global demand, weak Chinese economy and a potential oversupply in 2025. Commodity analysts at Standard Chartered continuously reiterated their bullish stance, arguing that the extreme bearishness was unwarranted. Well, StanChart appears to have been vindicated, with oil prices trading above $80 per barrel for the first time since August.  Lately, prices have pulled back a little due to the uncertainty of energy policies under Trump. And now StanChart has…