Oil’s record start to 2021 was under pressure from a firming dollar and a selloff in bond markets that spooked investors in risky assets.
Brent in London fell at the end of a week that saw the steepest decline in the Nasdaq 100 since the pandemic meltdown. Yet the global benchmark crude has had its best ever start to a year as supplies tighten and pockets of demand return. Next week, the Organization of Petroleum Exporting Countries and its allies meet to decide on output levels, with market gauges indicating strength.
Read More: Oil’s record start to 2021 hits a speed bump