Oil futures traded near unchanged early Wednesday, after giving back a modest rise following a short-lived weekend rebellion in Russia by the Wagner Group mercenary force that raised questions about President Vladimir Putin’s grip on power.
Price actionMarket drivers Oil... Oil futures traded near unchanged early Wednesday, after giving back a modest rise following a short-lived weekend rebellion in Russia by the Wagner Group mercenary force that raised questions about President Vladimir Putin’s grip on power. Price action Market drivers Oil bounced modestly Monday as investors largely took in stride the brief mutiny that saw Wagner Group forces advance to within around 120 miles of Moscow before being called off by the group’s leader, Yevgeny Prigozhin on Saturday.
With the eurozone, Great Britain and China “barely growing,” the demand outlook will continue to depress spot prices in the near term, said Peter Cardillo, chief market economist at Spartan Capital, in a note.