Oil At A Crossroads As COVID-19 Infections Surge

U.S. West Texas Intermediate crude oil futures are trading mixed at the end of the week and poised to close lower for the week as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand. Meanwhile, the International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday, but warned that the spread of COVID-19 posed a risk to the outlook. “While the oil market has undoubtedly made progress…the large, and in some countries, accelerating…