Crude Oil Supply Tight, USOIL Strides Forward
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To limit Russian funding in the war, G7 would curb Russian oil and gas prices, pushing oil prices higher. In contrast, API data showed a decline in U.S. crude oil inventories. and the possibility that production capacity in major oil producers, namely Saudi Arabia and the United Arab Emirates may reach their limits in the short term, supporting oil prices to rise. This week, EIA might unable to release crude oil inventory data again due to a system problem. Investors should pay attention to the next EIA release data, oil prices may fluctuate significantly in the short term.
The trend of USOil can be paid attention to…
-Latest news on the Russian-Ukrainian war
-20:30 US Gross Domestic Product (GDP) (QoQ) (Q1)
-22:30 US EIA Crude Oil Inventories for the week ending 6/24
-20:30 US Unemployment Claims for the week ending 6/25
-20:30 US Core PCE price index (YoY) (May)
-20:30 US Personal Expenditure (MoM) (May)
Which will affect USOil trends, and investors must grasp the opportunity of making orders.
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