Oil May Not Go Higher Unless Supply Gets Disrupted

Weekly Performance Summary This week witnessed varied movements in the crude oil market, driven by multiple factors. Oil prices dropped lower on Thursday, impacted by significant increases in gasoline and distillate stocks, which overshadowed a larger-than-expected crude stock decline. However, overall, the market is slightly higher for the week as we head into Friday’s action, supported by supply issues in Libya, escalating tensions in the Middle East, and encouraging remarks from the Federal Reserve's December meeting minutes. Additionally,…