Crude Oil Gains on U.S. Attack on Houthis, China's Hopeful Economic Data
U.S. Natural Gas Slips to Two-week Low as Waha Spot Prices Turn Negative
Oil Is Trading Higher Amid Weakness in the Dollar and After the US Launched Strikes on Houthi Targets. Additionally, Strong Chinese Economic Data Could Be Lifting Demand Outlook.
Trump once again pressures Iran through the Houthis' attacks, causing a short-term spike in international oil prices.
① The President of the USA, Trump, stated that any further attacks or reprisals by the Houthi armed group will be met with strong retaliation, and the USA will also hold Iran accountable for any future attacks by the Houthi armed group; ② As a result of this news, international oil prices surged in the short term, and Trump has reimposed "maximum pressure" on Iran, aiming to reduce Iran's oil exports.
Weekly ETF Flows: Five Out of 11 Sectors Record Outflows; Bitcoin Sees Outflow for Fourth Consecutive Week
Economic growth risks combined with OPEC+ increasing production have led several major banks to predict that oil prices will fall to the 60 dollar Range.
More and more major Wall Street firms are lowering their oil price expectations, believing that oil prices will hover around the 60 dollars Range.