scorecardresearchOil Holds Near Three-Month High as Traders Assess Demand Outlook

Oil Holds Near Three-Month High as Traders Assess Demand Outlook

Updated: 08 Jun 2022, 08:37 AM IST
TL;DR.
Oil was steady after closing at a three-month high with investors assessing the outlook for supply and demand as the US summer driving season ramps up and China emerges from virus lockdowns.
FILE - In this photo released by China's Xinhua News Agency, workers inspect the pipelines and oil storage tanks of a nearly 1, 000-kilometer (625-miles) -long China and Russia crude oil pipeline in Mohe, northeast China's Heilongjiang Province on Jan. 1, 2011. China’s support for Russia through oil and gas purchases is irking Washington and raising the risk of U.S. retaliation, foreign observers say, though they see no sign Beijing is helping Moscow evade sanctions over its war on Ukraine. (Wang Jianwei/Xinhua via AP, File)

FILE - In this photo released by China's Xinhua News Agency, workers inspect the pipelines and oil storage tanks of a nearly 1, 000-kilometer (625-miles) -long China and Russia crude oil pipeline in Mohe, northeast China's Heilongjiang Province on Jan. 1, 2011. China’s support for Russia through oil and gas purchases is irking Washington and raising the risk of U.S. retaliation, foreign observers say, though they see no sign Beijing is helping Moscow evade sanctions over its war on Ukraine. (Wang Jianwei/Xinhua via AP, File)