Do fundamentals support the rise of crude futures to two-year highs?

While the pandemic is far from over and coronavirus cases are still rising in some Asian countries, the front-month Brent crude futures breached on June 1 the $70/barrel ceiling and extended the rise the next day. From OPEC’s optimistic demand forecasts to uncertainty over Iran’s production, caution seems to dominate the medium-term, and the longer-term role of energy transition may not be as bearish for prices as one might think. In this episode of the Oil Markets Podcast, S&P Global Platts reporters Nicholas Baldwin and Eklavya Gupte discuss with Joel Hanley the reasons behind the bullishness in crude oil futures.