Psychological factors dampening crude oil rally poised for bullish turnaround

Owing to recessionary fears, lower energy consumption, weaker economic growth and higher shale production, crude oil prices have remained subdued most of this year. For 2023 so far, both WTI and Brent are approximately 12.4% below where they started. In addition, bearish factors that weighed on the price included the SPR release and the availability […]