Oil Data Is Robust, So Why Is Demand Sentiment So Poor?

Recently, Wall Street analyst BMO Capital Markets noted that U.S. market sentiment has lately fluctuated from recession fears to soft landing expectations in a short period of time any time there is a release of a major economic data point.  “Clearly the pendulum has swung in favor of optimism with the S&P 500 recovering sharply from its recent sell-off and once again approaching record highs,” BMO Capital Markets investment strategy team stated in an investor note. BMO’s observation describes oil markets to a tee. Oil…