Oil Remains Rangebound Despite Optimism Over Supply Cuts ...Middle East

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Oil Remains Rangebound Despite Optimism Over Supply Cuts
source : OILPRICE ( Middle East ) () 28
WTI crude oil futures have witnessed a period of choppy and rangebound trading over the last 10 weeks, influenced by a variety of supply and demand factors. This week was no different. September West Texas Intermediate crude oil futures settled higher on Thursday after flip-flopping during the session. The move was enough, however, to turn the market higher for the week, heading into the last day of the month and quarter. The two-sided trade was fueled by a bigger draw than expected in U.S. crude inventories but pressured by fears that rising interest…

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