Hopes Of A 'Soft Landing' Fuel Bullish Sentiment

Oil prices are on course for yet another weekly gain, fueled in part by supply concerns and in part by growing optimism about a 'soft landing' for the U.S. economy.Friday, 28th July 2023The strength of the US economy has added fuel to the recent rally in oil prices, with the 2.4% quarter-on-quarter growth in Q2 prompting many to believe again in the possibility of a soft landing. Even though China’s hoarding of crude does not necessarily look good for the upcoming months as Chinese refiners might suddenly start buying significantly less than…