Oil Prices Under Pressure as Concerns Mount Over Chinese Demand

While there is plenty to be bullish about in oil markets today, rising concerns over Chinese demand are weighing on oil prices.Friday, July 19th, 2024The consistent stream of positive news for oil from the United States, crowned by a largely unexpected 5-million-barrel drop in US crude stocks, has been offset by disappointment in China’s future outlook. The Third Plenum of China’s Central Committee barely saw any tangible pledges, with the lack of constructive takeaways reverberating across commodities. With Friday trading disrupted…