Traders are refocusing on the return of two bearish factors, according to Rystad Energy. The carnage on oil prices spilled into this week as the market now seems to be less concerned about the current supply tightness, expecting it to be short-lived. That’s what Rystad Energy’s senior oil markets analyst Louise Dickson said in a statement sent to Rigzone on Monday, adding that traders are instead refocusing on the return of two bearish factors – the possibility of more oil supply sources and more Covid-19 cases. “In the U.S., a stronger dollar paired with calls from Congress to release SPRs onto the market adds downside spin to the very short-term outlook,” Dickson said in the statement. “Global oil supply is still lagging behind demand, but we expect this fundamental to flip by mid-2022, which will prevent any triple-digit ascent in oil prices,” Dickson added. “The brewing fourth wave of […]