Bullish Sentiment Has Taken Hold of the Oil Market

Sentiment in oil markets is undeniably bullish, with WTI and Brent on course to post yet another weekly gain.Friday, July 5th, 2024Whilst market activity was relatively slim with US markets closed for Independence Day holidays, the triple combination of lower US crude, gasoline and diesel inventories have instilled hope in the market that summer demand wouldn’t be that bad after all. Amidst increasing optimism for US interest rate cuts in September, crude is set for another weekly gain with ICE Brent ending the week above $87 per barrel. Wildfires…