Crude oil fluctuates with the prospect of supply disruptions.
On Thursday, WTI crude oil futures fluctuated around $70.8 per barrel, attempting to recover from the previous day's losses as the Middle East situation escalated and the market evaluated potential supply disruptions.
Following the previous day's similar explosion of a Poké Bell, there were reports on Wednesday that a Hezbollah radio exploded in southern Lebanon, heightening concerns about escalating regional conflicts.
On the other hand, the US Federal Reserve implemented its first interest rate cut since early 2020. With a larger-than-expected 50 basis point cut, there is potential to boost economic activity and petroleum demand.
However, optimism retreated after Federal Reserve Chairman Powell stated that the central bank would not rush monetary easing.
In addition, concerns about China's demand, a major consumer of petroleum, continue to weigh on prices due to weak economic data.
Furthermore, the market is closely watching for the increase in supply from OPEC+.
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pinkotu : I want to lower it to at least $80, and now I want to increase it to $96 (a 20% increase). The Middle East conflict is likely to be for the purpose of raising oil prices, and of course both the United States and the EU are producing, so they would want to raise prices.
乱空 OP pinkotu : Honestly, I think so too.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
The whole thing about the Middle East is just material prepared to justify the direction at 80 in the short term, isn't it...