finally a positive vibe =how long negative =vibesCrude Oil Surges as Bank Turmoil Eases
Rich Asplund -Barchart - 1 hour ago
"May WTI crude oil (CLK23) on Monday closed up +3.55 (+5.13%), and May RBOB gasoline (RBJ23) closed up +10.03 (+3.93%).
Crude oil and gasoline prices Monday rallied sharply, with crude posting a 1-1/2 week high and gasoline posting a 2-week high. A weaker dollar (DXY00) Monday was bullish for energy prices. Also, easing banking sector concerns sparked a rally in asset prices after U.S. authorities said they were considering expanding a lending facility to help regional banks shore up their balance sheets.
The outlook for stronger Chinese crude oil demand is bullish for prices. China National Petroleum Corp, the country's largest refiner, predicts that apparent oil demand in China may expand by +5.1% to 756 MMT this year as the country emerges from the pandemic."
"Rising crude demand in India is bullish for oil prices. Last Wednesday, India's oil ministry reported that India Feb crude oil imports rose +8.5% y/y to 19.1 MMT, the most in seven months."
+++ other words in article many days old & get same same, repeated=
https://www.barchart.com/story/news/15447708/crude-oil-surges-as-bank-turmoil-eases
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