Recession fear and strong US dollar triggered sell-off in the crude oil futures. China announced a new round of COVID-19 tests in Shanghai, which could lead to demand dampening restrictions. There is a risk of tighter demand if the global economy tips into a recession. Today’s crude oil (CL) futures forecast is bearish as demand Read More…
G7 leaders have agreed to a possible ban on Russian oil. Saudi Arabia might be unable to boost output, bringing back supply concerns. Political unrest in oil-producing countries could lead to tighter global supply. The outlook for Crude oil futures today is bullish due to the supply concerns fueled by primary producers Saudi Arabia and Read More…
Investors expect fuel demand to go down amid a possible recession. Russia is finding ways to keep its oil exports up by focusing on emerging economies. CL price is testing the May 19 lows in the charts. Crude oil futures (CL) prices continued to collapse on Thursday as major economies faced a possible recession that Read More…
A more hawkish Fed could dampen demand in the energy market, pushing crude oil futures lower. COVID-19 re-emergence in China could lead to restrictions that would affect demand. OPEC remains confident that demand will be higher than pre-pandemic levels. Crude oil futures (CL) prices are pushing lower amid fuel demand concerns on Wednesday. Investors are Read More…
Demand pressures are pushing oil prices higher. Investors expect inventories to go down in the US due to the expected rise in demand. China is on the path to reducing its inventories as it reopens. Crude oil bulls are experiencing resistance at 120.00 on the charts. Crude oil futures (CL) is trading higher above $120 Read More…
The US is expected to use export restrictions to ease domestic fuel prices. Last week’s crude oil inventories are expected to drop. India’s oil minister says $110 a barrel is unsustainable. There have been minimal movement for crude oil futures (CL) prices in the past two days as investors are waiting for crude oil inventory Read More…
