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Momentum in oil markets is growing, but oil prices remain caught in a trap created by fears of a possible U.S. recession and optimism over China’s demand outlook

Oil continues to gain momentum as traders focus on strong demand in China, but rising U.S. crude inventories and uncertainty about the course of action from the U.S. Federal Reserve remain bearish factors

A weaker dollar, a more cautious Fed and the reopening of China’s economy are pushing oil prices up, but traders shouldn’t expect a significant breakout to the upside

Oil got dragged down this week by a cluster of bearish factors including a steep rise in covid cases in China and poor manufacturing data from the U.S.

As the U.S. economy continues to post strong numbers, oil traders are increasingly worried about further interest rate hikes