Oil Prices Hold Steady as Supply Concerns Balance Demand Worries

Oil prices held in a narrow range this week as two competing forces kept the market in balance: lingering supply-side tightness on one hand, and softer demand signals from key importing economies on the other. Inventory data came in close to expectations, offering little in the way of a fresh catalyst for either bulls or bears. Analysts note that positioning has become more two-sided in recent weeks, a shift from the more one-directional flows seen earlier in the year. With no major supply disruptions currently on the radar, the market appears content to trade within its recent range until either a fresh geopolitical development or a meaningful surprise in demand data forces a repricing. For now, the path of least resistance looks sideways rather than sharply higher or lower.