July West Texas Intermediate crude oil futures are under pressure on Friday, but still in a position to finish higher for the week. This week’s rally has been fueled by positive supply data and a positive outlook for demand now that countries have begun to ease coronavirus-related lockdown and restrictions. Demand Concerns Cap Weekly Gains The end of the week weakness is being generated by profit-taking ahead of the long U.S. holiday weekend and escalating tensions between the United States and China. Some traders are also expressing concerns over the pace of demand recovery from the coronavirus crisis, but this is likely to become more of an issue next week once traders get data on U.S. Memorial Day holiday travel. Prices reversed to the downside early Friday as the tensions between the U.S. and China centered on the former’s imposition of a new national security law on Hong Kong […]