Bulls on the Backfoot as Supply Risks Mount

Crude oil futures reversed sharply lower by Thursday after beginning the week with a strong rally fueled by optimism over a temporary easing in U.S.-China trade tensions. Prices initially surged more than 4% as both countries agreed to suspend certain tariffs for 90 days, rekindling hopes for improved global trade flows and stronger oil demand. However, the bullish tone quickly faded midweek, replaced by heavy selling pressure tied to rising supply risks and bearish geopolitical signals. The shift in market sentiment underscores just how fragile…