Weekly Fundamentals - Oil Rallied on Hopes of Tighter Fundamentals, USD also Lent Support

Energy prices outperformed last week as huge decline in US crude inventory raised hopes of tighter supply/demand balance. The front-month WTI crude oil contract resumed the recent rally, after sliding over the past 2 weeks, and gained +3.24% on weekly basis. The Brent crude contract also rose +2.52% last week with price breached above US$50/bbl at some points.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/weekly-fundamentals-oil-rallied-on-hopes-of-tighter-fundamentals-usd-also-lent-support-2016091133550/