Oil Rally Stalls On Fragile Demand Recovery

Oil prices slipped on Friday morning for a second day in a row as major forecasters warned that the global demand recovery is still fragile and as the U.S. dollar strengthened. As of 9:51 a.m. ET on Friday, WTI Crude was down 0.07 percent at $58.24 and Brent Crude prices were trading slightly up by 0.23 percent at $61.33. On Thursday, the International Energy Agency (IEA) warned that the oil market rebalancing looks fragile in the first quarter of 2021, although it continues to be optimistic that global oil stocks will rapidly draw down in the…