“Speculators spent the last couple of months cutting bullish oil bets to the lowest in more than a year and some of these are now playing catchup with the market finding a firmer footing,” said Ole Sloth Hansen, head of commodities research at Saxo Bank A/S in Copenhagen. The market is being “driven by Libyan supply disruption, signs that Russia’s production growth is slowing and reduced worries about omicron’s impact on global mobility,” he said.

Source: Libya Today January 03, 2022 01:44 UTC