Oil Prices Drop As Bearish Sentiment Builds

After an initially subdued reaction to yet another crude oil build in the U.S. on Thursday, oil prices fell on Friday morning as bearish sentiment built. Speculation of further Russian production cuts and a rebound in Chinese demand had held oil prices higher, but inflation fears and continued inventory builds eventually sent prices lower. Friday, February 24th, 2023Yet another build in U.S. crude inventories added to downward pressure on oil prices on Friday morning. The EIA's report weighed particularly heavily on WTI, opening an arbitrage window…