Photo by Joe Raedle/Getty ImagesOil rose toward US$90 a barrel after the International Energy Agency became the latest voice to say the market faces a significant deficit in the second half of this year.
West Texas Intermediate added 0.6 per cent after closing Tuesday at the highest since November. Demand will eclipse supply by 1.2 million barrels a day on average during the second half, the IEA said Wednesday. That comes hot on the heels of a forecast from the Organization of Petroleum Exporting Countries that the fourth quarter may see the biggest deficit in over a decade. The U.S. Energy Information Administration predicts a more modest gap.
National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Subscribe now to read the latest news in your city and across Canada.Daily content from Financial Times, the world's leading global business publication. Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Create an account or sign in to continue with your reading experience.Share your thoughts and join the conversation in the comments.Don't have an account?
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: fpinvesting - 🏆 43. / 63 Read more »
Source: globeandmail - 🏆 5. / 92 Read more »