What next for oil prices after hitting multiyear highs?
Oil is normally the king of the energy market. Where it leads others follow.
But in the past few weeks it has been usurped. Natural gas, which for decades was primarily priced off oil contracts, has become the leader of the energy pack, as the crunch in supplies globally has pumped up prices.
Oil has not been immune. Crude prices are starting to take off due to the spillover effects of the gas crunch, as some sectors look to replace gas with oil where it is economically feasible to do so.
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