Bullish Catalysts For Oil Aren’t Convincing Enough

After posting an impressive rally on Monday through Wednesday, U.S. West Texas Intermediate crude oil futures are trading lower on Friday, putting the market in a position to finish lower for the week. The primary catalyst behind the price action this week was U.S.-China trade relations. Optimism over the progress of the negotiations drove prices higher early in the week, but uncertainty over the timing of the signing of a trade deal encouraged long investors to book profits and trim positions late in the week. Concerns over Trade Deal On Thursday,…