As Hurricane Rafael weakens, U.S. crude oil production concerns ease, leading to a more balanced sentiment and potentially neutral to slightly bearish global crude price outlook.
Despite early week support from potential sanctions on Iran and Venezuela, concerns over China's continued decline in crude imports raise fears of weaker global demand.
The market faces downward pressure as U.S. crude inventories rise, suggesting that the combination of weaker demand could overwhelm any potential supply-side support.
The outlook is increasingly bearish as declining demand from China contrasts with earlier optimism about potential supply disruptions from geopolitical tensions.
Collection
[
|
...
]