Oil prices have remained fairly static this week, as a softer U.S. dollar, declining U.S. inventories, and increased Chinese stimulus measures have raised hopes of improving demand
Oil prices posted their sharpest weekly losses in three months last week as investors priced out the risks of a direct and wider conflict between Israel and other big oil producers in the region.
Crude oil prices resulted in another weekly loss after the U.S. Federal Reserve signaled once again it had no immediate plans to start cutting rates, in turn impacting consumer confidence and therefore potential oil demand.
Crude oil prices began trading lower this week after a brief rally last Friday as Iran geared up for a retaliatory strike on Israel.
Worries over U.S. and European banking sectors push oil prices lower.
Last week’s welcome drop in fuel price proved to be short lived
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