A slight price recovery on Friday couldn’t save what turned out to be the worst week this year for oil markets. Brent is currently hovering around $68 per barrel having fallen from a $74 high earlier this year. Increased worries about a possible oil slump, due to the perceived negative impact of the escalating US trade war with China, and unexpected higher stock volumes, have scared mainstream analysts it seems. It seems that the oil market is not being ruled by bulls or bears, but is being sheepish instead. The combination of a perceived global economic slowdown, higher levels of US oil storage, and rumors of a possible de-escalation of the Iran-US crisis are mitigating the clear and present danger in oil and gas markets. Without a doubt, OPEC+ will be rolling over its ongoing production cut agreement, as the oil cartel and its Russian partner are content with […]