Oil Faces Headwinds Despite Bullish Fundamentals

October West Texas Intermediate Crude oil futures posted a volatile trade on Thursday on top of a bearish weekly performance. The price action reflected a myriad of factors from economic data to geopolitical shifts. Demand Worries from Economic Data Concerns about global economic health cast a shadow over oil prices. Weak figures from major economies, including Japan's shrinking factory activity, declining business activity in the Eurozone, and Britain's potential economic contraction, have heightened demand anxieties. Even in the U.S., economic…