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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (115507)	11/14/2021 9:03:54 AM
From: Goose94	Read Replies (1) \| Respond to of 203376

Crude Oil: WTI Under Pressure As Bearish Factors Mount Whilst crude prices have been relatively range-bound recently, hovering within the $80-85 per barrel range, they are poised to suffer their third weekly decline in a row. Beyond the backwardation in the futures markets, several trends point towards a further weakening in crude. The Biden Administration is expected to take a decision on further SPR releases in the upcoming days. In addition, demand prospects have soured a bit lately as OPEC cut its Q4 2021 demand forecast by 330,000 b/d as high energy prices and inflation hamper economic recovery. Last but not least, a strengthening dollar is putting additional pressure on crude. Against this background, the Brent global benchmark traded around $82 per barrel, whilst WTI was assessed around $80.5 per barrel.