Oil futures find support as investors continue to monitor China's reopening and look for more clues to the size and speed of Fed rate hikes
Oil futures rose Tuesday, finding support as investors continue to monitor China’s reopening and look for more clues to the size and speed of Fed rate hikes.
“We... Oil futures rose Tuesday, finding support as investors continue to monitor China’s reopening and look for more clues to the size and speed of Fed rate hikes. “We are confident that oil prices will climb again once the current wave of COVID infections has peaked in China and economic activity picks up,” said Carsten Fritsch, commodity analyst at Commerzbank, in a note.
China has also opened its borders to international travelers again, which should go hand in hand with a recovery in oil demand, Fritsch said.
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