Crude Oil Continues to Drift Back and Forth
West Texas Intermediate Crude Oil market
Currently, it appears that the market is directionless, and we may see a lot of back-and-forth movement, with theNo Significant Move Expected this Weekcan be found at the $82.50 level, so traders should exercise caution. Given the low global demand, the oil market is experiencing conflicting signals, making it unlikely that there will be any significant movement in the near future.The Brent market attempted a rally at the start of Friday's trading session but later retreated, testing the $81 level.Uncertainty surrounds whether the global economy will experience a resurgence in demand soon, and the Chinese market's reopening has been lackluster.
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