Kuwait Strike Raised Hopes of Oil Market Tightening Even for Short Term

Benefitted from the recovery in crude oil prices and better-than-expected corporate earnings results, Wall Street climbed higher with DJIA and S&P 500 indices adding +0.6% and +0.65% respectively. Shares in Asia also opened higher on Tuesday on the comeback of risk appetite. Crude oil prices had a roller coaster trading day with the front-month WTI contract initially slumping to as low as 37.61 before recovering to 39.78, down -1.44%, at close.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/kuwait-strike-raised-hopes-of-oil-market-tightening-even-for-short-term-2016041932728/