Key Takeaways WTI crude fell to $56 as ceasefire hopes and weak China data pressured prices in a well-supplied market.USO is down about 11.8% year to date as global supply is expected to outpace demand this year and next.SCO gained 5.9% in a week as traders boosted bearish bets amid oversupply fears and geopolitical uncertainty.The U.S. oil benchmark dropped to its lowest level since February 2021 as traders assessed renewed optimism around a potential deal to end the war in Ukraine, per Bloomberg, as quote ...