Oil: Market managed to recover some of the lost ground – Danske Bank

Analysts at Danske Bank note that the oil market managed to recover some of the lost ground towards the end of last week, with the price on Brent crude creeping back above USD75/bbl.

Key Quotes

“The oil market is likely to have found some comfort in the unchanged US oil rig count, which has not increased for a couple of months now. On the other hand, the market will stay on its toes following speculation that the US will tap into its strategic petroleum reserves.”