Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats Amid Demand Worries
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Oil markets are under pressure due to weak Manufacturing PMI data from Europe, leading to a retreat in oil prices amid demand concerns.
December 02, 2024 | 7:30 pm
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NEGATIVE IMPACT
Brent oil prices are also affected by the weak European Manufacturing PMI data, leading to concerns about demand.
Similar to WTI, Brent oil prices are impacted by the weak Manufacturing PMI data from Europe, indicating potential demand reduction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
WTI oil prices are retreating due to weak Manufacturing PMI data from Europe, which raises concerns about future demand.
The weak Manufacturing PMI data from Europe suggests a slowdown in industrial activity, which could lead to reduced demand for oil. This has a direct negative impact on WTI oil prices.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80