Crude Oil December 2021 Futures ($US/barrel)

Overnight saw crude oil continue this week’s impressive recovery, its already ~10% above this month’s low which helped the US Energy Sector rally +1.6% overnight. As we discussed on Tuesday MM likes the Energy stocks today and if crude can close here, or higher, come Friday the technical picture will remain very supportive, now all we need is for the local stocks like Santos (STO) to take notice!