The oil market saw another volatile week as bullish and bearish catalysts collided. There is a growing fear that a potential recession could weigh heavily on oil demand. Overall, the market appeared more concerned about the rising odds of a recession rather than falling U.S. fuel inventories to multi-year lows. The oil market wrapped up another volatile week of hectic trading, swinging up and down in a $5 a barrel range as it was pulled between bullish and bearish catalysts in both directions every day. Both benchmarks hit an eight-week high early on Tuesday, only to pull back later in the day and join on Wednesday the sell-off on Wall Street triggered by renewed investor concerns about a possible recession as top retailers flagged soaring costs and supply chain bottlenecks in their quarterly earnings reports. In the week to May 20, oil market participants paid more attention to “recession […]