For more market insight, go to
After a small rebound on Monday, both crude contracts have now turned negative on the week, with oil prices threatening to fall for the third consecutive month. With prices drifting lower with short-lived recovery phases here and there, there is an increased probability we could see prices break down, especially with no signs of any acceleration in import demand in China, Europe or North America, or a change in OPEC plans of slowly increasing withheld crude supplies. The upcoming release of the ISM manufacturing PMI is likely to have only a modest impact on oil prices, potentially unable to change its current bearish course.
コメントを残す