Oil Ekes Out Fourth Daily Gain as Market Struggles for Direction
- IEA says oil market won’t be as tight as expected this quarter
- WTI ends session little changed while Brent edges lower
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Oil narrowly held onto a four-day winning streak as investors weighed a mixed supply-and-demand outlook.
West Texas Intermediate settled unchanged near $78 a barrel, erasing an equities-led morning rally. The US benchmark has struggled for direction — crossing above its 200-day moving average just one week after breaching it on the way down. Prices earlier tested the 13-day moving average, another key resistance level, before retreating.