U.S. West Texas Intermediate crude oil is under pressure on Friday and in a position to close lower for a second consecutive week on growing demand worries and an unexpected rise in U.S. stockpiles that raised new concerns about oversupply. The U.S. benchmark is on track to lose about 6% this week. The market has been under pressure all week starting with Saudi Arabia‚Äôs surprise move to cut prices on oil it supplies to Asia by $1.00 starting in October. A second wave of selling pressure is being fueled by a surprise rise in U.S. stockpiles as the coronavirus pandemic continues to erode demand for fuels. Compounding the weakness was a second consecutive weekly decline in U.S. stock indexes as well as U.S. economic indicators that suggested a long and difficult recovery from the coronavirus pandemic. Additionally, further dampening the markets mood, the U.S. Senate killed a Republican bill […]