"Market Tightens, Fueling Oil Price Gains"

Oil prices continue to rise, with WTI Crude trading above $91 per barrel and Brent Crude above $94 per barrel. Falling global inventories, OPEC+ production cuts, and China's stimulus measures have supported the market. The growing imbalance between demand and supply, along with positive economic data from the US and China, have boosted the short-term demand outlook for oil. Portfolio managers have increased their bullish bets on crude oil in response to the extended supply cuts. However, a fresh catalyst may be needed to push oil prices to triple digits.