Expectations of stronger demand in China following new economic support measures have introduced optimism in the oil market, but concerns about concrete details of such plans persist.
While November's 14% year-on-year increase in Chinese crude imports has fueled optimism, the lack of clear details in China's stimulus announcements may limit sustained price gains.
Rising crude and fuel inventories in the U.S. indicate ample supply, which could cap price gains, as crude oil stocks rose by 499,000 barrels last week.
As markets await further insights from the U.S. EIA's crude oil inventories data and inflation figures, oil prices could remain volatile amid demand concerns.
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