Oil Markets in a Tightrope Walk: Supply Scarcity and Economic Woes Oil prices are caught between tight supplies and the gloomy shadow of economic uncertainty. The tug-of-war in the oil market is evident as Brent Crude nudges just over $82 per barrel, and West Texas Intermediate hovers around $77.50, both encapsulated within a $10 trading range that has defined this year’s market dynamics. While the specter of high interest rates and the potential for subdued economic growth push traders to shy away from riskier assets like crude oil, the physical markets tell a different story. Here, shortages in refined products have lent strength, with Brent’s prompt spread reaching three-month highs, a clear sign of market tightness. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Historical Data Challenges Assumptions About Rate Cuts and Market Gains READ MORE Powell Cautious on Rate Cuts, Sees Longer Path to Inflation Target READ MORE Silver Is the New Gold' — Egyptians Try to Protect Savings READ MORE Goldman’s $2,175 Target READ MORE Morgan Stanley Warns: Digital Currencies May Challenge US Dollar's Reign READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment