Has Sentiment Finally Shifted in Oil Markets?

Oil prices are on track to post a second weekly gain as bullish sentiment builds and the prospect of a prolonged price rally becomes increasingly likely. Friday, September 20th, 2024Oil prices are set to record their second straight week-on-week gain with WTI rebounding above $70 per barrel and now trading closer to $72 per barrel, but the fact that the US Federal Reserve has at last initiated a new cycle of monetary easing should have prompted a stronger market response. With a weaker dollar and an improved macro risk outlook, next week could…