Oil Bulls Are Back As Brent Breaks Above $80

Bullish sentiment has been growing in oil markets this week, with inflation in the U.S. slowing dramatically and markets tightening on the back of supply disruptions and production cuts.Friday, July 14th, 2023News of a marked drop in US inflation growth this week has boosted oil prices, pushing ICE Brent above $80 per barrel for the first time since May. Further buttressed by the market’s tightness coming from Saudi Arabia’s production cuts and Russia’s export curbs – backwardation is steepening again – this week is…