Oil edges up on China demand hopes and supply concernsJust out, the bulls aren't ready to give up just yet on China which will start gaining momentum, even if firms down talk China they'll be proven wrong and what will happen is once China starts filling labor positions now that the COVID peak has passed workers will slowly gain confidence that COVID worst is behind us plus the factories that are offering higher pay and other incentives will work and like a herd of animals once the leader tests the waters and prove it's safe the rest will follow and manufacturing will see a larger gain than anyone expected plus having a hard time in finding laborers is a good problem to have to indicate that demand has started. There's no reason to push SP too low; if the lots for bids are small then don't sell to make a penny you only kill confidence for something that will be worth larger coin if held. Take care of the pennies and the dollars will take care of themself. If Oil does head lower stand fast the rebound is all but guaranteed
Oil edges up on China demand hopes and supply concerns | Reuters