Oil futures move higher Wednesday, with concerns about tight supplies continuing to provide support, analysts say.
Oil futures moved higher early Wednesday, with concerns about tight supplies continuing to provide support, analysts said.
Price action Market drivers Crude was headed for a fourth day of gains, with support tied to strong underlying demand. The movement was driven by China’s moves to ease COVID restrictions, continued worries about tight supplies and a constrained outlook for production increases, analysts said, though fears of recession as the Federal Reserve and other major central banks tighten monetary policy aggressively in an effort to rein in inflation.
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