Page 5 - Indicator Analysis News Today

A pair of economic reports from China came in much weaker than expected on Thursday, further deepening concerns over global demand and recession

The week started on the wrong foot for oil when OPEC+ decided not to cut output, but bearish news continued to pile up as traders continue to worry about global economic growth

Oil markets are looking at a period of heightened volatility with another monthly OPEC+ meeting coming up, a ban on Russian seaborne crude around the corner and a $60 oil price cap on Russian crude

Crude oil is likely to remain under pressure ahead of next week’s holiday-shortened week because of ongoing concerns about demand, the dollar’s renewed strength and worries about a global recession

Crude prices got some support from a lighter-than-expected inflation print, leading traders to believe that the Federal Reserve may slow its aggressive tightening campaign that has weighed market down

The Federal Bank’s decision to keep hiking interest rates has capped interest prices, and a stronger dollar continues to be a negative impact for international oil markets

Oil markets are back in bullish territory, and a weaker dollar in combination with record U.S. crude exports is fueling prices

Bullish traders are focusing once again on tighter supply as a result of the EU ban on Russian crude and OPEC+ output cuts, and now the demand side also got a bullish nudge as China’s demand looks stronger than expected

Stubbornly high inflation continues to pressure the Fed to hike interest rates even further, but lower supply from OPEC+ and dwindling diesel inventories could make for tighter supply in oil markets

WTI crude prices rallied back towards $90 as a result of the OPEC+ output cut, but prices may pull back as the Biden Administration is dead-set on bringing crude prices back to more palatable levels ahead of the Mid-terms