OPEC assesses demand expectations, crude falls into bear market, WTI falls below $100
Crude oil futures fell below $100 a barrel on Tuesday (15th), hitting the lowest closing price since Russia invaded Ukraine in nearly three weeks.
After the fourth negotiation between Russia and Ukraine failed, the negotiations continued, the Russian army continued to attack Ukraine. In addition to the humanitarian disaster, the Russia-Ukraine conflict has raised concerns about global economic growth and sent commodity prices soaring across the board.
OPEC released its monthly report on Tuesday, saying that they were “reviewing” its economic forecasts and estimates of crude demand and supply growth in 2022, while warning that inflation sparked by the Russia-Ukraine war could reduce energy consumption.
Focus on the 90 line. From the four-hour line, the Bollinger vul is trending downward. The news, the Russia-Ukraine negotiation will continue. The Ukrainian side said that there is a possibility of compromise between the two sides. overall bearish, Focus on 98 and 100, and the performance of the EIA data in the evening
