🚨 Market Update · Trading Passive Essentials

🚨 Market Update

Hey everyone, just wanted to update you on some major movements in the oil market that could impact your trading strategies.

Oil futures are down over 6% this week, marking the biggest decline since early September. This drop is largely due to China’s economic slowdown and reduced global oil demand forecasts from OPEC and the International Energy Agency. Brent crude is now trading around $73.56, and U.S. crude is at $69.72.

China has also implemented stimulus measures, injecting 800 billion yuan into their markets, but concerns about demand recovery remain.

Additionally, tensions in the Middle East are still being monitored, which could create sudden price spikes.

Stay alert to these changes as they could lead to short-term opportunities, especially in commodities trading.

**Source : https://www.reuters.com/business/energy/oil-edges-up-track-biggest-weekly-loss-over-month-2024-10-18/

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