Russia’s Commitment Remains To Be Seen, Oil Prices May Prolong It’s Bull Trend
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Although oil prices fell under pressure after Russia and Ukraine made more progress in the latest talks, the chief negotiator warned that Russia’s promised reduction in military action does not represent a ceasefire, coupled with this morning’s API data showing that US crude oil inventories fell and Kazakhstan Stan’s oil supply continues to be disrupted, in addition to OPEC+ has shown no sign of significantly increasing production, causing market concerns about supply to remain. Pay attention to the EIA data in the evening. If it shows that crude oil inventories have fallen, it is estimated that oil prices will continue to fluctuate and go on bullish trend.
The trend of USOil can be paid attention to…
-Latest news on the Russian-Ukrainian war
-20:15 U.S. ADP Employment (Mar)
-20:30 U.S. GDP (QoQ) (Q4)
-22:30 U.S. EIA Crude Oil Inventories for the week ending 3/25
-20:30 U.S. Unemployment Claims for the week ending 3/26
-20:30 U.S. Core PCE (Feb)
-20:30 U.S. Unemployment Rate (Mar)
-20:30 U.S. Non-Farm Payroll (Mar)
-21:45 U.S. Markit Manufacturing PMI (Mar)
-22:00 U.S. ISM Manufacturing PMI (Mar)
Which will affect USOil trends, and investors must grasp the opportunity of making orders.
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