, Columnist
The Next Move in Oil Prices May Be Down, Not Up
Oil’s recovery is coming under pressure from rising supply and faltering demand.
Oil stockpiles are set to rise again
Photographer: Suhaimi Abdullah/Getty Images AsiaPacThis article is for subscribers only.
Oil’s recovery is being hit from both sides.
Benchmark Brent crude prices have risen by 128% from their April low, remaining above $40 a barrel since the middle of June. But rising supply and faltering demand bode ill for those who want oil prices to keep climbing.