CPT Markets : The economic recession has weakened fuel demand, causing oil prices to drop to a three week low! day...

Brentcrude oil (Brent Oil)：

Brent crude oil fell to80.75Nearby, concerns that a possible economic recession will weaken fuel demand and increase US natural gas inventories have put pressure on the short-term downward trend of oil prices.

In terms of bearish data, the number of initial claims for unemployment benefits in the United States slightly increased last week, indicating that the labor market is gradually slowing down as the Federal Reserve's one-year interest rate hike has suppressed demand. The loss of momentum in the labor market, although only a slight and steady decline, combined with the decline in retail sales and manufacturing activity, exacerbates the risk of a recession as soon as the second half of this year. US Energy Information AdministrationEIAAnnouncement as of4month14The change in natural gas inventory for the current week has significantly increased compared to expectations750Billion cubic feet, the larger the natural gas inventory data, the higher the supply. In addition, all three major US stock markets closed down yesterday, including a decline in the S&P index0.60%The Dow Jones Industrial Average fell0.33%And the Nasdaq Index fell0.8%。

In terms of Lido data, the United States and its allies are considering an almost complete ban on exports to Russia, which may increase the economic pressure faced by Russia. According to insiders,G7Group officials are currently5The idea was discussed before the monthly leaders' summit, with the aim of allowing EU member states to join this plan. In addition, the Federal Reserve believes that policy interest rates will exceed5%The economy will achieve a soft landing. According to the Federal Reserve's preferred measurement standards,2The annual inflation rate for the month is5%This year, it will decrease to3.75%And in the2025Annual achievement2%The goal of.

In summary, oil prices have been suppressed by concerns that the US labor market has lost momentum, increasing concerns about economic recession weakening fuel demand, and the overall narrowing of US stocks. However, the US and its allies are considering almost a complete ban on exports to Russia, limiting the decline in oil prices; Focus on the United States during the day4Monthly manufacturing industryPMI。

Press from above(Upper resistance) 80.70，81.10； From the downward direction, the lower support80.30。

CPT MarketsRisk Tips and Disclaimers : The above article content is for reference only and is not intended as future investment advice.CPT Markets The articles published are mainly based on international financial data reports and international news as reference.