Crude Oil Outlook:

  • crude oil prices had suffered from the news that COVID-19 infection rates are rising in China.
  • However, there was a rebound amid conflicting headlines about the landing of Russian missiles in Poland, a NATO member.
  • According to that IG Customer Sentiment Index, crude oil prices have a downward trend in the short term.

China and Russia are driving the price action

Crude oil prices have had an unpredictable week so far, fueled by speculation about supply and demand issues.

On demand…

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