U.S.’s Price Cap On Russian Oil Has Encountered A Bottleneck, USOIL Teeters
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Although strong demand due to geopolitical tensions between Russia and Ukraine has provided support for oil prices, the price caps imposed by the United States on Russia may be difficult to implement, plus OPEC+ may increase production in August, and U.S. existing home sales data fell 3.4% in May, as the lowest record in two years, so it is expected that oil prices may drop shudder with fluctuation.
The trend of USOil can be paid attention to…
-Latest news on the Russian-Ukrainian war
-04:30 U.S. API Crude Oil Inventories for the week ending 6/17
-20:30 US Unemployment Claims for the week ending 6/18
-21:45 US Markit Manufacturing PMI Initial Value (June)
-23:00 U.S. EIA Crude Oil Inventories for the week ending 6/17
-22:00 University of Michigan Consumer Confidence Index Final Value (June)
-22:00 US Annualized Total New Home Sales (May)
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.