Oil Prices Bounce Back As Sentiment Shifts

Oil prices rebounded on Tuesday morning as speculation of another OPEC+ cut combined with hopes that China would respond to protests by easing its Covid restrictions.Chart of the WeekThe global Brent benchmark sunk to its lowest level since early January this week, almost dropping below $80 per barrel, as China protests unsettled investors that were still hoping for demand growth.- A more balanced supply/demand outlook has triggered the first contango seen in the futures markets since late 2020, with the slight upward trend in the front months…