Oil Prices Under Pressure Despite Bullish Sentiment ...Middle East

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Oil Prices Under Pressure Despite Bullish Sentiment
source : OILPRICE ( Middle East ) () 44
Oil prices are set to end this week flat after gaining around 3% last week amid robust demand and growing supply unease. This week, these factors were tempered by the prospect of a ceasefire in the Middle East and a stronger U.S. dollar that normally puts oil traders in mind of weaker demand. Profit-taking after last week’s gains also served to dampen prices. On the other hand, there are indications that global oil inventories are in a stronger-than-usual decline, which might deepen worry about the sufficiency of supply. Reuters earlier today…

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