Stronger Chinese Oil Imports May Send WTI Above $80

Crude oil futures are in a position to close higher for the week after recovering from earlier setbacks. Notably, both Brent and West Texas Intermediate (WTI) crude futures reached one-week highs, driven by positive demand signals from China and the U.S. This recent uplift positions the market to potentially break a four-week decline, providing a critical moment for traders monitoring market directions. US Demand Insights In the U.S., the crude price gains were moderated by concerning demand data. According to the latest Energy Information Administration…