A combination of bullish news including inventory drawdowns, supply outages and a large Fed interest rate cut sent oil prices higher this week, but demand risks remain
Light crude oil futures have rallied sharply this week, supported by multiple key factors. The U.S. Fed eral Reserve’s aggressive rate cut, escalating geopolitical tensions between Israel and Hezbollah, and a significant drawdown in U.S. crude stockpiles have all contributed to higher prices. However, concerns over weak demand from China remain a limiting factor, creating mixed sentiment in the market.
Traders are closely watching for signs of improvement in China’s economic data, as any further weakening could dampen global demand forecasts. Fuel Inventories Build But Stay Below Expectations U.S. fuel inventories have risen modestly, but the builds were smaller than expected, adding to the mixed sentiment in the market. Distillate stockpiles, which include diesel and heating oil, increased by 100,000 barrels, while gasoline stocks saw minor gains.
Oil Oil Prices Oil Demand Inventories China Fed Interest Rates
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