Geopolitical Risk Keeps Oil Markets on Edge

March West Texas Intermediate (WTI) crude oil futures have been oscillating within a narrow $8.00 range, displaying resilience in the face of various market forces. Despite this confinement, the market has managed to register a small gain for the week. In the short term, traders will keep a close watch on the array of elements shaping the oil market, such as evolving tensions in the Middle East, fluctuations in U.S. production, and shifts in global demand. These factors are crucial for understanding both the present situation and future trends…