Last week, international oil prices first fell and then rose

Recently, fears of recession have intensified, and the United States has tried to suppress oil prices, but the crude oil market is currently in short supply
.
Multiple factors are intertwined, and last week (the week ended June 24) international oil prices fell first and then rose
.
On June 23, international oil prices fell to a new low in nearly a month, and WTI oil prices approached the $100 / barrel mark
.
On June 24, Brent oil reversed its downward trend, unchanged from the price on June 17, closing at $113.
12 a barrel
.
WTI oil prices fell 1.
77% from the week of June 17, closing at $107.
62 per barrel
on the 24th.

In response to inflationary pressures, after the Federal Reserve announced interest rate hikes, many central banks followed suit, fears of a global recession intensified, and the outlook for oil demand came under pressure
.
In addition, the summer travel peak is approaching, the United States has called for a three-month suspension of fuel taxes, and tried to suppress oil prices from various channels
.

Analysts said that under the influence of geopolitics, Russia's crude oil supply may be further reduced, OPEC+ has encountered problems such as insufficient investment in some oil producers, and the monthly production increase target has been difficult to achieve
.
The current crude oil market is still tightly supplied
.
Due to many factors, oil prices may be in a volatile state for a period of time
.