The oil price rally continues to display strong momentum as tightness in the physical markets shows no sign of easing. The past seven trading days have all seen new year-to-date-highs set for front-month Brent, with the latest hitting a 10-month high above $95 per barrel (bbl). According to commodity analysts at Standard Chartered, there have been higher intraday highs over the past eight trading days and for 16 of the past 18 trading days, with WTI recording a similar pattern. The oil price rally has also been accompanied by a sharp drop…
