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

To: Goose94 who wrote (128151)	7/5/2022 12:32:53 PM
From: Goose94	Read Replies (1) \| Respond to of 202843

Crude Oil: Drops Below US$100 For The First Time Since April A look at today’s stock market is enough to understand the main concern for oil markets right now, recession. Whilst most assessments expected recession to kick in later this year, its first signs are already emerging with European economies potentially entering a recession in Q3. Seeing Brent futures losing a hefty 10% today and dropping close to $102 per barrel, one would perhaps fail to notice that supply remains very much an issue – Libya’s almost complete degradation into an all-out internecine conflict and Norway’s offshore production seeing the first massive strike campaign of recent years have narrowed potential supply sources even further. Moreover, Saudi Aramco’s August OSPs also point towards little if any remaining spare capacity. Yet all of this is not enough to break the cycle of fear. Oilprice.com