Market demand outlook is optimistic Oil prices are rising

According to Bloomberg on January 9, the generous quota of crude oil imports in Asian demand markets has boosted oil, and hopes of a recovery in demand from the world's largest buyers have reappeared
.

West Texas Intermediate (WTI) rose 1.
2 percent on Monday to settle above
$74 a barrel.
This is a signal that the market is preparing to meet more demand
.
A weaker dollar has also boosted the attractiveness
of dollar-denominated commodities.
The price rose as high as 4% intraday, but with the forward curve still flashing with future weakness, many traders said the price around $77 was the trigger point
for selling.

The week also marks the beginning of the annual rebalancing of the world's most important commodity index, a period typically characterized
by volatility across the bulk raw materials market.
According to Citigroup Inc.
and Societe Generale SA estimates that more than $1 billion should have flowed into the global Brent oil market during this period, leading to outflows from WTI
.

The WTI index for February delivery rose 86 cents to settle at $74.
63 a barrel in New York
.

Brent crude for March delivery rose $1.
08 to settle at $
79.
64 a barrel.

Crude has had a sluggish start to the year, posting a decline of about 8 percent last week as the oil market showed signs
of weakness recently.
At present, despite the improvement in liquidity indicators in recent days, traders are still waiting for a real pick-up
in market demand.