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Oil prices have been buoyed by a weaker dollar and rumors that China may be easing some of its Covid regulations, although the Fed’s increasingly hawkish tone is likely to add downward pressure to prices in the long term. Oilprice Alert: This week’s Global Energy Alert is welcome reading for any oil investors out there, with our head trader making a strong case for yet more upside in oil stocks. Meanwhile, geopolitical risks are spiking after threats from Iran, Russia, and Libya this week. Sign up today , and if you aren’t enjoying it after the first month we’ll give you your money back. Friday, November 4th, 2022 Jerome Powell’s much-anticipated press conference this week has curbed the enthusiasm of those that expected a dovish turn from the Fed after he said the terminal rate could be higher than previously expected. A prospective recession in the US does not bode well for oil demand, even if it happens alongside a potential opening up of China after years of self-imposed restrictions. Oil prices were up on Friday morning, aided by a weakening dollar and more rumors of China easing its zero-Covid policy. China Mulls Softening Zero-COVID. In what might become […]
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