Hot topic | Oil prices have fallen back to before the Russia-Ukraine conflict, what does it herald?-clevelanddrifters.com

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Hot topic | Oil prices have fallen back to before the Russia-Ukraine conflict, what does it herald?

time：2023-03-24 02:37:50 source：clevelanddrifters.com author：Individual stock recommendation

Hot topic | Oil prices have fallen back to before the Russia-Ukraine conflict, what does it herald?

On Wednesday, due to the renewed fear of recession, the superimposed US dollar index hit a two-year high, which put pressure on commodities, and oil prices fell again. Brent crude oil and WTI crude oil both fell by more than 5%. Among them, Brent oil fell below the $90 mark and reported $88.00 per barrel; $WTI Crude Oil Main Link (2210) (CLmain.US) closed down $4.94 at $81.94 per barrel, which was also the lowest point since January. Most oil stocks such as $Occidental Petroleum (OXY.US)$, $Pioneer Natural Resources (PXD.US)$, $Chevron (CVX.US)$ and other oil stocks have also performed poorly recently. With oil giving back all its gains since the Russia-Ukraine conflict, returning to where it was at the beginning of the year, traders are assessing whether prices will fall further. Fitch, an international rating agency, warned that Russia's "Nord Stream-1" pipeline will be suspended indefinitely, increasing the risk of a recession in the euro zone. In addition, the European Central Bank and the Federal Reserve will raise interest rates sharply this month, and investors are further optimistic about the prospect of oil demand. . Coupled with the ongoing negotiations on the Iran nuclear deal, once it is reached, as many as 93 million barrels of Iranian oil will flood the market, and oil prices may face downward pressure. Lovely recommendation: Commodity bull market continues? Citi and Goldman Sachs sing a contradictory tone: If there is a recession, oil prices will fall to $60 and rise or fall by $10 a day. The world's largest commodity hedge fund: The crude oil market has failed. Adults "want it all"! Don't get lost on the topic: pay attention to the trend of oil prices >> Some analysts pointed out that the slump in oil prices has eased the energy tension in the United States, allowing the Biden administration to breathe. In addition, the sharp drop in international oil prices is expected to ease the negative emotions of American consumers. If the decline in oil prices can continue, it may ease the pressure on the Fed to tame inflation. The agency pointed out that it is recommended to pay attention to the investment opportunities brought about by the peaking of crude oil prices and the narrowing of the CPI-PPI scissors gap, including aviation, downstream chemicals, and midstream manufacturing that benefit from falling oil prices. Guys, what do you think of the recent sharp drop in oil prices? Oil prices fell, inflation pressure eased, is the Fed's tightening pace expected to slow? Can U.S. stocks be boosted by this? Let’s have a passionate discussion in the comment area~ღ( ´･ᴗ･` ) Risk reminder: The opinions of the authors or guests shown above have their own specific positions, and investment decisions need to be based on independent thinking. Futu will endeavour but cannot guarantee the accuracy and reliability of the above content, and will not be liable for any loss or damage arising from any inaccuracies or omissions.

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