Mini Trade Deal Could Be Huge Catalyst For Oil

U.S. West Texas Intermediate futures are in a position to close higher for the week although trading inside last week’s range still suggests investor uncertainty and indecision. Furthermore, the price action appears to be representative of short-covering as opposed to aggressive counter-trend buying. This is understandable considering the fundamentals remain overwhelmingly bearish despite a slight shift in the narrative due to optimism over a possible trade deal between the United States and China. Supported by Expectations of Limited US-China…