While oil prices have remained more or less in a range recently, they are on course for a third week of losses as bearish factors mount A strengthening U.S. dollar, the reduced demand forecast from OPEC, and rumors that Biden might tap the SPR are all pressuring oil prices A plethora of bearish factors is driving oil prices lower, with both WTI and Brent set for a third weekly loss in a row. Friday, November 12th, 2021 Whilst crude prices have been relatively range-bound recently, hovering within the $80-85 per barrel range, they are poised to suffer their third weekly decline in a row. Beyond the backwardation in the futures markets, several trends point towards a further weakening in crude. The Biden Administration is expected to take a decision on further SPR releases in the upcoming days. In addition, demand prospects have soured a bit lately as OPEC cut […]