Bears Keep Exerting Pressure, Oil Price Stumbling
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The increase in the number of initial jobless claims announced on Thursday is a sign of a weak labor market. If tonight’s U.S. Non-Farm Payrolls data and Unemployment Rate further prove the sluggish labor market, it may continue to weigh on oil prices. In addition, Iranian crude oil is expected to return to the market. Coupled with the global spread of the Monkeypox epidemic, the risk of market uncertainty has risen, multiple bearish factors have dragged down oil prices. Investors must pay attention to the US July Non-Farm Payrolls data and Unemployment Rate tonight.
The trend of USOil can be paid attention to…
-Latest news on the Russian-Ukrainian war
-20:30 US Unemployment Rate (July)
-20:30 US Non-Farm Payroll (July)
Which will affect USOil trends, and investors must grasp the opportunity of making orders.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.