Oil Prices Remain Vulnerable to Demand Fluctuations

Crude oil prices were set for yet another loss this week as demand pessimism continue to pressure traders into selling, alleviating supply concerns. Brent crude and West Texas Intermediate trended higher earlier in the day but were set to end the week lower than they started it, under the weight of economic reports pointing towards lower global demand for oil. Manufacturing data from key markets in Europe, Asia, and the U.S. showed a slowdown in demand for products, which by extension gets translated into lower demand for energy. In the U.S., the…