Bullish Fundamentals Limit The Downside For Oil Prices

Oil prices are on track for a weekly loss due to the prospect of new oil flows entering the market, but bullish fundamentals are helping to stop any significant drop.Friday, August 25, 2023The prospect of Kurdish oil exports returning to the market and rumors of a US-Venezuela rapprochement have weighed heavily on oil prices this week, but healthy US crude inventory draws and lower-than-expected product stock levels in Europe have countered some of that downward pressure. Unless the US Federal Reserve’s Jackson Hole meeting today…