Oil Prices Are Under Pressure

U.S. West Texas Intermediate crude oil futures dipped on Thursday, putting the March futures contract in a position to finish lower for the week. Weaker-than-expected economic data and a rebound in the U.S. Dollar are being blamed for the daily weakness. The market has been under pressure all week with the selling starting late last week on Jan. 27 when indications of strong Russian oil supply offset better-than-expected U.S. economic data, strong middle distillate refining margins, and hopes of a rapid recovery in Chinese. Contributing to the…