Oil Slips On Surprise ECB Rate Cut, EIA Data Supports
Oil futures on both sides of the Atlantic have seen sharp swings, buffeted by moves in the dollar and hopes that peace talks in Ukraine may brighten the demand outlook in Europe.
Further swings are likely due to the lack of clarity on the situation in Ukraine and the prospects for economic growth, said Olivier Jakob at Petromatrix in Zug, Switzerland.
(Additional reporting by Simon Falush and David Sheppard in London, Robert Gibbons in New York, and Jacob Gronolt-Pedersen in Singapore; Editing by Marguerita Choy and Tom Brown)
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