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 Chinese Central Bank kicks off New Round of Gold Accumulation READ MORE New Russia-Iran Pact Marks Major Step in Global De-Dollarization Efforts READ MORE January 2024: Europe's Record-Breaking Bond Sales READ MORE Everything's Overvalued: Marc Faber Sees Precious Metals as Safe Haven READ MORE Revisiting the 2024 Gold Price Predictions READ MORE Add a Comment Cancel replyYour email address will not be published.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