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The recession haze continues to weigh on crude oil
Fundamental Roundup: On Wednesday (September 7), local time, the strength of the dollar and fears of a global recession weighed on oil prices, with U.
S
.
oil falling below $85, the lowest level since January this year, and Brent Oil also falling below the $90 mark.
As central banks raise interest rates to calm inflation, investors fear the economy could slip into recession
.
PVM analyst Stephen Brennock said that high inflation and central bank interest rate hikes have curbed consumption, and fears of a recession in demand in the Western world are getting closer to reality
.
Credit rating agency Fitch said on Tuesday that the disruption of the Nord Stream 1 gas pipeline increased the likelihood of
a recession in the euro zone.
Operation suggestion: crude oil 10 contract to see the intraday operating range of 687-670, short-term from the high continued pressure shock fall, technical form also showed a downward trend, but the continuous downward still has to 670 below the opportunity to deepen, trading continues to sell high and low short orders to participate.
