PRESS ROOM
Oil price retreat as demand concerns loom
Thursday 25th March '21
After making strong gains in the first half of March, oil prices have retreated in the second half of the month. This is due to a combination of the following: 1. Demand concerns as Europe and India remain in the grip of the pandemic, 2. General risk-off sentiment amid rising Treasury yields and sell-off in equities, 3. Speculative positioning shaking out after being elevated during the recent price hike and 4. Gains in the US dollar.