Oil Prices Rally As The Market Refocuses On Fundamentals

Oil prices are still on track to finish out the week in the red, but crude prices saw a strong rally on Friday morning as the market attempts to rebalance itself from the disconnect between bearish sentiment and fundamentals. Much of the previous week’s price slide can be attributed to a disappointing crude oil demand look out of China on the back of lackluster manufacturing activity, compounded by bank sector stressors in the United States. Nevertheless, little has changed in the way of oil market fundamentals, and the market is looking…