Oil Prices Set To Rise as Supply-Demand Gap Closes Up

Oil prices are poised to climb over the coming weeks as supply
and demand approach parity, according to analysts who spoke to CNBC
as the remnants of Hurricane Harvey continues to ravage Houston,
the energy capital of the United States. A rise in oil demand for
2017 made large strides in closing the gap between available crude
and the number of willing buyers, sources said. “[Oil prices]
should be going up because inventories have been drawing at a
phenomenal pace over the past few weeks and months,” Amrita Sen of
Energy Aspects said. Both West…

Oil prices are poised to climb over the coming weeks as supply
and demand approach parity, according to analysts who spoke to CNBC
as the remnants of Hurricane Harvey continues to ravage Houston,
the energy capital of the United States. A rise in oil demand for
2017 made large strides in closing the gap between available crude
and the number of willing buyers, sources said. “[Oil prices]
should be going up because inventories have been drawing at a
phenomenal pace over the past few weeks and months,” Amrita Sen of
Energy Aspects said. Both West…