Investors are cautious about U.S. inflation and interest rates, pushing oil prices lower.
Fed officials indicate more signs of slowing inflation are needed for rate cuts.
Despite increased refinery capacity, demand remains weak, adding pressure on oil prices.
Given the persistent inflation concerns and the cautious stance of the Federal Reserve, the outlook for crude oil prices remains bearish in the short term. The combination of weak refinery demand, ample supply, and geopolitical uncertainties points to continued price pressure. However, OPEC+ production cuts could offer some support, preventing a steeper decline. Traders should monitor upcoming economic data and OPEC+ decisions closely for further market direction.
Fed officials indicate more signs of slowing inflation are needed for rate cuts.
Despite increased refinery capacity, demand remains weak, adding pressure on oil prices.
Given the persistent inflation concerns and the cautious stance of the Federal Reserve, the outlook for crude oil prices remains bearish in the short term. The combination of weak refinery demand, ample supply, and geopolitical uncertainties points to continued price pressure. However, OPEC+ production cuts could offer some support, preventing a steeper decline. Traders should monitor upcoming economic data and OPEC+ decisions closely for further market direction.
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tp hit @72.5 usd