Oil Rises Ahead of Weekly Inventory Data

Oil prices continue to trade in a very narrow bandwidth with ICE Brent still hovering around the $83 per barrel mark, with traders anticipating potentially impactful US economy data coming in later this week – first the US personal consumption expenditures readings, followed up by European inflation figures and Chinese PMI developments reflecting the Chinese Lunar New Year.  Ukraine’s Drone Strikes Bring Russian Refining Down - As the United States edges closer to this year’s spring break, usually a high-demand season for…