WTI slides towards $81.00 amid risk-off mood, downbeat China concerns ahead of API crude oil inventories – by anilpanchal7 Oil WTI Commodities Energy RiskAversion
Fears of slowing energy demand from China, firmer US Dollar weigh on Oil price.WTI crude oil takes offers to refresh the intraday low near $81.40 amid the early hours of Tuesday’s European session. In doing so, the blackThat said, the energy benchmark’s latest losses could be linked to the market’s, as well as economic and geopolitical fears surrounding China, one of the world’s biggest Oil consumers.
Elsewhere, previous concerns suggesting the challenges for the hawkish central banks appear to fade of late, which in turn exerts downside pressure on the crude oil price, especially when the US Dollar remains firmer. While portraying the mood, S&P500 Futures prints mild losses around 4,530 as it retreats towards the monthly low marked the last Friday, reversing the first daily gain in five marked on Monday. That said, the US 10-year and two-year Treasury bond yields remain pressured around 4.06% and 4.76% by the press time.
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