WTI Crude Oil futures traded near 24-week lows.

December WTI Crude Oil futures had a significant price range on the day, but overall remained near the 24-week lows reached yesterday. The contract's low was $56.35 and the high was $58.08, representing a 3.07% range of price action, though the market is only up about two-thirds of 1% on the session. Oversupply remains a major concern, as international energy agencies, including the IEA, EIA, and OPEC, continue to report high global stockpiles, indicating more crude in the market versus global demand. However, US-China trade optimism impacted market dynamics by leveling off the risk to future demand projections. This lessening of uncertainty amplified existing supply pressures, resulting in a quiet overall day for WTI Crude Oil futures prices.