Crude prices are trending upwards by 0.5% due to optimism surrounding China's demand recovery, significantly bolstered by the historic $3 trillion treasury bond offering.
The impending return of Donald Trump threatens to reignite trade wars with China, creating uncertainty for crude prices as markets anticipate potential restrictions.
Experts speculate that Trump's trade war threats may be more about negotiating leverage, as the actual economic implications for both countries could deter aggressive actions.
The holiday season, along with the closure of the German market, is likely to provide temporary support for crude prices amidst low institutional investor sentiment.
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