- WTI clings to mild gains after two-day uptrend, braces for first weekly loss in three.
- Upbeat US growth numbers, likely inaction from OPEC+ and China reopening underpin bullish bias.
- Mixed details of US GDP, cautious mood ahead of Fed’s preferred inflation gauge probe Oil buyers.
WTI crude oil price prints mild gains as bulls and bears jostle around $81.30 during the third positive day on Friday morning. In doing so, the black gold portrays the market’s cautious optimism surrounding the future energy demand, as well as cheers the US Dollar weakness, while waiting for fresh clues.
That said, the US Dollar Index (DXY) retreats to 101.80, following a corrective bounce off an eight-month low backed by overall upbeat US economics. On Thursday, the US Bureau of Economic Analysis (BEA) released the first estimate of the US fourth quarter (Q4) Gross Domestic Product that marked an annualized growth rate of…
