Oil Traders Are Growing Cautiously Bullish

In a week of turbulent trade, U.S. benchmark September West Texas Intermediate (WTI) crude oil futures have managed to hold their ground, indicating a potential higher finish for the week. Thursday's session saw WTI crude oil prices settling slightly higher, thanks to lower U.S. crude inventories and strong crude imports by China.

However, the market sentiment remained somewhat restrained due to concerns about weaker demand outlook. Throughout the year, the U.S. oil demand has been bolstered by encouraging economic data, low unemployment, and subdued…