Oil Futures Settle Higher in Choppy Trade

Core Insights - The crude oil market is currently facing multiple downward pressures, including elevated U.S. inventories, signs of oversupply, steady OPEC+ production, and diplomatic progress between Russia and Ukraine [2] Oil Market Summary - WTI crude oil prices settled up 1.2% at $58.65 per barrel, while Brent crude rose 1% to $63.13 per barrel [2] - Despite the temporary stabilization of Brent and WTI prices, the short- and medium-term outlook for the oil market remains negative [2]