Today, the release of the SP Global PMI numbers by various G-7 nations including Germany, the US, and the UK will keep investors busy
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Rising central bank rate hike bets and Russian-UK referendum tension would be a negative for Brent oil. In other words, rate hikes by G7 countries leads the growth forecasts down
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Rising central bank rate hike bets and no longer boost production from OPEC keep hold of Brent price above 87.25 level.
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A stronger US Dollar, rising central bank rate hike bets and China’s ongoing Covid lockdowns weighed on the commodity.
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Technically, 50-Daily Moving Average (DMA) crossed the 200 DMA for the downside.
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Technically, 50-Daily Moving Average (DMA) crossed the 200 DMA for the downside.
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Brent oil prices fall sharply form 95.50 level to 91.10 area after US CPI beat expectations
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50-Daily Moving Average (DMA) crossed the 200 DMA for the downside, but the momentum for black metal is today neutral
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The rise in crude inventories will likely put further pressure on Brent as Russian oil supply recovers and worries about virus lockdowns in China temper demand.
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