"Free markets grow more sustainably, they use capital more efficiently," Tolle said. "They recover faster because they are more innovative."
Crude prices posted a fourth straight week of gains returning oil to a bull market ahead of an OPEC+ meeting where the industry’s most powerful were likely to agree not to raise production at this point to preserve the momentum. “It remains a perfect storm of buying from CTAs while the rest of the market either is not long enough or short and covering,” said Scott Shelton, energy futures broker at ICAP (LON:NXGN) in Durham, North Carolina. New York-traded West Texas Intermediate, the leading indicator for U.S. crude, settled down 18 cents, or 0.4%, at $45.53 per barrel.
By Geoffrey Smith