Sentiment In Oil Markets Is Decidedly Bearish

U.S. benchmark February WTI crude oil futures closed lower for a fifth straight session on Thursday, solidifying a lower close for the week. The market was higher earlier in the day on word of a closure of a major Canada-to-U.S. crude pipeline. However, those gains were erased when traders shifted their focus to concerns that global economic slowdowns would slash fuel demand. Keystone Pipeline Shutdown Provides Early Support Canada’s TC Energy said it shut its 622,000 barrel-per-day Keystone pipeline after a spill into a Kansas creek, Reuters…