Oil Prices Tumble Nearly 3% As Russia-Ukraine Tensions Ease
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The withdrawal of Russian troops from the Ukrainian border eased fears and profit-taking sent oil prices down nearly 3% from a seven-year high. Coupled with the news that analysts believe that oil prices have been high enough to suppress demand growth and the WHO pointed out that the Omicron sub-variant BA.2 is more contagious than the original Omicron strain, the news is bearish for oil prices. But Biden said, there was still the possibility of Russia invading Ukraine, limiting the decline in oil prices.
The trend of USOil can be paid attention to today’s U.S. January retail sales monthly rate with EIA data, and the minutes of the monetary policy meeting announced by the Federal Reserve tomorrow, which will affect crude oil trends, and investors must grasp the timing of placing orders.
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