In less than a month, an embargo on the sea transport of Russian crude oil to the European Union will come into force. As a result, the global oil supply will tighten significantly as Russia is the world’s largest oil and fuel exporter. And the market is preparing.
Hedge funds are liking oil again and buying it in sizeable amounts on the futures market, according to to John Kemp of Reuters. Last week the purchase reached 22 million barrels of Brent crude and 15…
