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China and Jet Fuel Drive Oil Price Gains

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Oil prices continued to climb after China’s sudden reopening reignited buying. Macro-economic discussions have switched from recession to growth thanks to Beijing’s surprise change of tack on Covid-19. The International Monetary Fund shared an outlook for economic improvement from the second half of 2023 though next year at the Davos economic forum in Switzerland this week. International benchmark Brent gained $2.18 per barrel over the week to finish at $86.16/bbl Thursday while US price-pin WTI put on $1.94/bbl to close at $80.33/bbl.

Topics:
Jet Fuel, Oil Spot Markets, Diesel/Gasoil, Crude Oil
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