Misinterpretations of IEA commentary and a bearish API report have weighed on prices, at least for today’s session, so far. Late yesterday, G-7 finance ministers called on the IEA to take appropriate action to ensure the market was fully supplied. and that they remain vigilant toward risks to the global economy posed by elevated oil prices. However, IEA executive director, Maria van der Hoeven reiterated her opposition by saying that higher oil prices…
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