In May, as progress was made in China-U.S. trade negotiations, international crude oil prices experienced a rebound. The rebound for NYMEX WTI crude and ICE Brent crude approached 5%, while INE’s RMB-denominated crude rose by nearly 4%. Since the beginning of the year, international crude oil prices have continued to decline, mainly due to a global pattern of “increasing supply and decreasing demand,” with persistent concerns about oversupply.The following chart shows the trend of NYMEX WTI crude oil futures prices.Looking ahead, the progress in China-U.S. trade talks, the substantial reduction of the high tariffs imposed on each other in April, a slight easing of global economic downside risks, and the upcoming peak driving season in the U.S. are expected to provide short-term momentum fo
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