Oil Bounces Back On New Round Of OPEC Rumors

Oil prices are on course to close the week higher, with WTI trading close to its highest level since September. Oil prices rebounded midweek on signs of a tighter physical market and more rumors that OPEC+ would extend the production cuts. But the market is still awaiting direction from the U.S.-China trade war – every utterance in either direction regarding tariffs has an immediate price impact. For now, markets are optimistic, but still cautious. ExxonMobil’s credit outlook cut on high spending. Moody’s Investors Service cut…