Oil Prices Under Pressure Despite Bullish Sentiment

Oil prices are set to end this week flat after gaining around 3% last week amid robust demand and growing supply unease. This week, these factors were tempered by the prospect of a ceasefire in the Middle East and a stronger U.S. dollar that normally puts oil traders in mind of weaker demand. Profit-taking after last week’s gains also served to dampen prices. On the other hand, there are indications that global oil inventories are in a stronger-than-usual decline, which might deepen worry about the sufficiency of supply. Reuters earlier today…