Crude Oil prices have snapped a seven-week winning streak with investors now focused on the clear possibility of reduced energy demand, rather than the certainty of tightening supply.
have snapped a seven-week winning streak with investors now focused on the clear possibility of reduced energy demand, rather than the certainty of tightening supply.
Japan obviously provides no exact parallels with China, but investors will be uncomfortably aware of how long and fruitless its attempts to reignite lost domestic demand have been. At face value there’s not much on the economic calendar likely to shake the oil market out of the blues in the week ahead, hence the bearish call at the top of this page. Inventory data from the US Energy Information Administration is coming up on Wednesday, with heavyweight durable goods orders out of the US a day later. Both will likely be of interest, neither is likely to produce lasting effects.
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