Oil Prices Set For A Second Weekly Gain As Supply Concerns Mount

Crude oil prices were set for their second consecutive week of gains today as supply concerns began to seep through a preoccupation with demand. The latest inventory data from the United States helped alleviate concerns about demand, according to Reuters, as the EIA reported a larger-than-expected draw. Even though it was much slimmer than the inventory draw estimated for the previous week, which came in at 9.6 million barrels. Yet last week’s inventory draw was the third in a row, strengthening the impression of a stronger demand environment…