Crude oil prices traded defensively this week as bearish fundamentals overshadowed short-term risk catalysts. While geopolitical tensions and the end of the U.S. government shutdown offered fleeting support, the market remained focused on rising global inventories, shifting supply-demand expectations from OPEC and the IEA, and a broader sense that supply continues to outpace demand. West Texas Intermediate (WTI) futures fell sharply midweek before stabilizing at $58.12, a level that may act as psychological support in the short term. Large U.S.…
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