POO going down big time6 Jul 2022 23:49
Brent crude futures cut early gains and fell nearly 3% to below $100 a barrel on Wednesday, after sinking almost 10% in the previous session, which was the biggest daily fall since March. Market volatility is set to continue as investors weigh prospects of falling demand due to slowing growth and tight supply. China reported new coronavirus cases, raising concerns of more lockdowns. At the same time, a strike in the Norwegian oil and gas sector came to an end yesterday, avoiding a 341K loss of barrels of oil by the weekend. Meanwhile, Caspian Pipeline Consortium (CPC), which takes oil from Kazakhstan to the Black Sea via Russia, has been told by a Russian court to suspend activity for 30 days although Reuters reported that exports were still flowing.
Back towards $80 pb Hope not