Standard Chartered: Oil Demand Isn’t as Bearish as You May Think

Oil prices have been on the backfoot in the current week, pulling back from gains in recent weeks thanks to easing geopolitical fears and seemingly never-ending demand concerns. On Monday, U.S. Secretary of State Antony Blinken announced that Israeli Prime Minister Benjamin Netanyahu had accepted a cease-fire proposal to stop the war in Gaza, but on Thursday, sources close to the White House reported that such a deal is once again out of reach as Hamas is unlikely to accept the Israeli terms, which include the occupation of the Philadelphi corridor,…