Has Oil Lost Its Upside Momentum? ...Middle East

Anyone banking on more upside momentum for oil prices may be disappointed going forward, with a holding pattern now being determined by rising concerns over demand coupled with releases from strategic petroleum reserves.  Oil prices have fallen particularly sharply over the past week as traders worry that China’s oil demand will take a big hit from reinstated lockdowns. Brent blend for June delivery fell USD 10.84/bbl w/w to settle at USD 102.32/bbl, while WTI for June delivery fell USD 9.07/bbl to USD 98.54/bbl. Values were more robust…

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