Weaker Dollar Fuels Oil Rally

The weakening of the U.S. dollar helped oil prices this week, keeping WTI front-month prices at $86 per barrel despite the avalanche of bad macroeconomic news. With business activity contracting in the U.S., the UK and the euro zone (in the latter it was the worst industrial performance report in the entire post-pandemic period), the oil market bulls are still facing an uphill battle, indicating that the lack of supply in the short term will gain the upper hand over demand concerns in the longer term. So far it has been a draw.Investor Alert: Today,…