A Signal of Strong Short Term Demand in Oil Markets

This week, crude oil prices are inching higher, primarily driven by concerns over tightening supply. As of the latest trading sessions, April West Texas Intermediate (WTI) crude oil futures are showing an increase, currently up by 0.19% for the week. This rise, when compared to the stability or fluctuations in previous weeks, highlights a growing concern among traders. They are actively watching for a potential breakout above the January 29 main top of $79.09, indicating a bullish sentiment in the market due to these supply concerns. Spot vs. Futures…