What's next for crude-oil prices as wealthy nations consider a release of their reserves

Oil prices pulled back from this week’s highs near $120/barrel after a group of wealthy nations said they will consider a coordinated release of emergency global crude reserves. The announcement has calmed panic and should reduce near-term upside pressure and volatility in oil markets, easing immediate supply-driven risk for energy-exposed portfolios.

Analysis

Oil prices pulled back from this week’s highs near $120/barrel after a group of wealthy nations said they will consider a coordinated release of emergency global crude reserves. The announcement has calmed panic and should reduce near-term upside pressure and volatility in oil markets, easing immediate supply-driven risk for energy-exposed portfolios.