Analysts expect oil to recover over the second half of 2023 if supply tightens significantly after prices slumped this week ahead of key policy meetings for the US Federal Reserve, European Central Bank and Bank of Japan.
On Tuesday, benchmark US West Texas Intermediate oil futures fetched $US67.47 a barrel to slump 4.1 per cent so far this week, with higher grade Brent crude futures down 3.5 per cent at $US72.36 a barrel, the lowest level since December 2021.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
