Emerging into the light

摘要

Global oil markets established themselves above $70/bl as expectations grew for strong demand growth for the rest of the year. Atlantic basin benchmark North Sea Dated rose by $1.48/bl to $71.48/bl in the week to 10 June, while US marker WTI firmed by $1.48/bl to S70.29/bl. Forecasters are reaching consensus that demand growth will be particularly high in the third quarter. Opec revised up its projections for oil demand in the third quarter by 300,000 b/d to reflect a nearly 2.2mn b/d increase from an already strong second quarter.