Global Oil Markets Bullish Despite Bearish Inventory Data

As the US-China trade war seems to be spiraling out of control, not even the renewed conflict potential in the Middle East and ever-tight physical crude supply were enough to produce a more substantial crude price jump. For much of the past seven days, crude prices remained in a limbo when an array of various factors seemed to counteract each other – first global economic growth forecasts for 2019 were cut, then Middle Eastern safety concerns sprung up, then tight supply came into prominence again, only to be eventually overpowered by another…