Oil Trading Sentiment Turns Sour As Rates Hikes And Disappointing Stock Draws Kick In
Ship & Bunker New Team
July 26, 2023
Who was cited:
James Davis, Director of Short-Term Global Oil Service - FGE
Despite the optimism from some analysts that this week's oil rally spurred by tight global supplies may have legs, the latest rate hike from the U.S. Federal Reserve combined with a mild U.S. crude inventory draw was all it took to send skittish traders back to their bearish stance on Wednesday.