Oil Markets Prepare For An End-Of-Year Rally

November West Texas Intermediate crude oil is in a position to
close sharply higher for the week in reaction to a bullish report
from the International Energy Agency (IEA). According to the IEA,
global oil demand is set to accelerate faster than anticipated this
year. Strong second-quarter demand has buoyed oil markets, which
have been struggling to rebalance as a supply glut has weighed
heavily on prices, the IEA said in its September report released on
September 13. With the IEA growing more confident that shifting
fundamentals are enabling demand…

November West Texas Intermediate crude oil is in a position to
close sharply higher for the week in reaction to a bullish report
from the International Energy Agency (IEA). According to the IEA,
global oil demand is set to accelerate faster than anticipated this
year. Strong second-quarter demand has buoyed oil markets, which
have been struggling to rebalance as a supply glut has weighed
heavily on prices, the IEA said in its September report released on
September 13. With the IEA growing more confident that shifting
fundamentals are enabling demand…