by Global Oil Demand Rises Back on April 20 we saw briefly the bizarre appearance of negative oil prices in certain markets. Today for the first time in many months Brent crude briefly topped per barrel, although it fell back below that level (WTI is tending to be about behind it, despite a single day recently when for the first time in years it nearly matched Brent crude at only 18 cents lower). However, it looks like the recent trend of global oil prices rising will continue some more, with prices likely to go above and stay there. How far beyond that I shall not forecast. But this is a price level where many oil exporting nations can get out of immediate financial crisis, with many of them actually making money, if not as much as they would
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Barkley Rosser considers the following as important: US/Global Economics
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Global Oil Demand Rises
Back on April 20 we saw briefly the bizarre appearance of negative oil prices in certain markets. Today for the first time in many months Brent crude briefly topped $40 per barrel, although it fell back below that level (WTI is tending to be about $3 behind it, despite a single day recently when for the first time in years it nearly matched Brent crude at only 18 cents lower). However, it looks like the recent trend of global oil prices rising will continue some more, with prices likely to go above $40 and stay there. How far beyond that I shall not forecast. But this is a price level where many oil exporting nations can get out of immediate financial crisis, with many of them actually making money, if not as much as they would with still higher prices.