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QP - WTI rangebound at $55-$57/bbl on demand uncertainty - March 11, 2019
WTI rose 27 cents last week to settle at $56.07/bbl. The contract has kept in a $55- $57 range for the last three weeks as recent data has not moved the needle on prices. As expected, Vienna Pact oil production cuts are being implemented, but the US and China still have no trade deal and concerns still persist over global economic growth this year. On Monday, March 4, WTI rose 79 cents to settle at $56.59/bbl. Markets were encouraged......
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