Oil prices are unlikely to move much higher from the current levels in the low $40s, at least not for the rest of the year, a growing number of analysts and industry professionals say. Oil has been stuck in a narrow trading range in the low $40s more or less since July after the market began to worry that even with large supply cuts from OPEC+ and curtailments in the U.S., demand will not recover fast and strong enough to draw down the record-high inventories that had built in the second quarter. This year has been a year of uncertainties on all markets, including the oil market, but it looks as if uncertainties have grown since we entered the second half of 2020, instead of abating as analysts had predicted earlier this year. Uncertainties about a second wave of COVID-19 and renewed restrictions on social gatherings in several major […]