Oil Rally Stalls On Demand Concerns

July West Texas Intermediate crude oil futures are under pressure on Friday, but still in a position to finish higher for the week. This week’s rally has been fueled by positive supply data and a positive outlook for demand now that countries have begun to ease coronavirus-related lockdown and restrictions. Demand Concerns Cap Weekly Gains The end of the week weakness is being generated by profit-taking ahead of the long U.S. holiday weekend and escalating tensions between the United States and China. Some traders are also expressing concerns…