Oil futures marked fresh highs for the year on Monday, after posting a third consecutive weekly climb on continued concerns over tightening crude supplies.
Price action
Market drivers
Oil has “maintained its momentum thanks to the existence of some potential green shoots among the Chinese macroeconomic indicators,” said Tim Waterer, chief market analyst at KCM Trade. That data included an improvement in China’s industrial production and consumption last month and 4.6% year-on-year growth in retail sales in…
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