A Sustained Oil Rally Seems Unlikely Amid Rampant Inflation

U.S. West Texas Intermediate crude oil futures are in a position to finish the week lower after a promising finish the prior week. The selling pressure started early Monday with the market sinking nearly 2% after five straight sessions of gains. The catalyst behind the weakness was growing worries that the gathering of economic storm clouds could be foreshadowing a global recession that could erode fuel demand. Fed Rate Hike Worries Fuel Recession Fears Crude oil prices were capped early in the week amid comments from U.S. Federal Reserve officials…