Crude Back In Demand

Crude traders have had a strong start to the year with crude futures trading in the green over the first full week of 2022 trading so far. On the back of hefty position reductions across the end of 2021 it seems that long positions are once again being rebuilt in crude as traders look to regain bullish momentum. Crude prices are now higher by around 30% off the Q4 2021 lows following the weakening of the US Dollar rally. The initial strength in the greenback early in Q4 struck a blow to crude upside. However, with USD bulls having lost momentum since early December, crude has been able to recover.

submitted by /u/Tickmill
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