WTI TUMBLES BACK INTO $72.00 AS SENTIMENT WEIGHS, VOLATILITY DECLINES

avatar
· Views 117




  • Growing odds of a Gaza ceasefire has seen Crude Oil tumble.
  • A surge in US NFP figures sent Crude Oil even lower on Friday.
  • OPEC has a long road ahead of it to overcome non-OPEC production growth.

West Texas Intermediate (WTI) US Crude Oil fell into familiar lows on Friday, driven down by geopolitical fears washing out on hostage negotiations and sparks of doubt that OPEC will successfully under-produce pumping growth in the non-OPEC sphere.

Qatar is heading up efforts to negotiate a ceasefire in Gaza, if at least temporarily to allow the exchange of hostages, and Qatar’s steady success in talking down both sides of the conflict is seeing Crude oil flounder as geopolitical tensions ease.

The Organization of the Petroleum Exporting Countries (OPEC) is set to see a long-term challenge in 2024 and 2025 as OPEC tries desperately to undercut global non-OPEC production, imposing stiff production quotas on member nations as non-OPEC producers such as the US outstrip OPEC pumping caps. Analysts are increasingly concerned that the US and other non-OPEC producers could entirely oversupply global markets, and investors will be keeping a close eye on inventories in 2024


면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.

이 글이 마음에 드시나요? 작성자에게 팁을 보내 감사의 마음을 전하세요.
댓글 0

더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.

  • tradingContest