Do fundamentals support the rise of crude futures to two-year highs?
While the pandemic is far from over and coronavirus cases are still rising in some Asian countries, the front-month Brent crude futures breached on June 1 the $70/barrel ceiling and extended the rise the next day. From OPEC’s optimistic demand forecasts to uncertainty over Iran’s production, caution seems to dominate the medium-term, and the longer-term role of energy transition may not be as bearish for prices as one might think. In this episode of the Oil Markets Podcast, SaP Global Platts reporters Nicholas Baldwin and Eklavya Gupte discuss with Joel Hanley the reasons behind the bullishness in crude oil futures.