Author: Yongchang Chin
Article: Original article
Publication date: Tuesday, November 22, 2022
Oil markets get balanced after a volatile session. Investors are assessing unclear supply prospects and concerns over weak demand in virus-hit China.
In two weeks, on Dec. 5, EU restrictions on Russia's oil price cap shall enter into force.
Stephen Innes, managing partner at SPI Asset Management commented “as EU policy continues to bend its line, this should be optimistic for the oil market" – considering the fact that Russia stated it will not supply oil to countries using the caps.
Oil rises amid EU restrictions