Bearish Risks Remain Despite a Tight Oil Market

Crude oil prices demonstrated resilience this week, recovering from early losses to finish higher on Thursday. Despite conflicting economic signals globally, several key factors fueled a bullish sentiment in the oil market. These positive influences ultimately outweighed initial concerns, propelling prices upward as the week progressed. U.S. Inventory Decline: A Major Bullish Catalyst The most significant factor driving oil prices higher this week has been the substantial decrease in U.S. crude oil inventories. The Energy Information Administration…