Crude oil futures settles $66.36 ...Middle East

The price is rising from a six-month low despite growing concerns over rising supply, higher U.S. inventories, and weakening demand amid escalating U.S. trade tensions.

Fears of slower economic growth and reduced oil demand from tariffs continues to weigh on the market.

On the supply side, OPEC+ is set to unwind 2.2 million barrels per day of production cuts over the next 18 months, starting in April, adding to the bearish sentiment. Meanwhile, non-OPEC supply continues to rise, with U.S. production hitting a record 13.51 million barrels per day last week.

This article was written by Greg Michalowski at www.forexlive.com.

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