2023-06-27 12:46:11
WTI oil futures tumble more than 1% near $68 amid recession concerns. which will affect oil demand.
At 7:34 p.m. Thai time, West Texas Crude Oil Contract (WTI) for delivery in August. which traded on the NYMEX, minus $ 1.10, or 1.59%, to $ 68.27 / barrel.
HSBC Asset Management released its semi-annual report today. It warned that the US economy will face a recession this year. While the European economy will face a recession next year.
In addition, oil prices dropped today. While investors ease concerns regarding the political situation in Russia. After the rebellion of the Wagner Mercenaries quickly ended. without affecting Russian oil production which is the world’s third largest oil producer
Experts state that unrest in russia May cause oil production to halt. By affecting the amount of oil up to 3.5-4.0 million barrels, which will make the oil market fluctuate heavily.
Investors are keeping an eye on the American Petroleum Institute (API) crude stocks release today, ahead of the US Energy Information Administration (EIA) release tomorrow.
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