WTIUSD

Crude oil prices will be at the center of global growth and demand concerns this week. The expectation of a sharp drop in the Philadelphia Fed Manufacturing Index, which will be announced on Thursday, from 23.2 to 9.1, will be one of the most significant leading indicators of a slowdown in economic activity. This situation will increase concerns about global oil demand, creating a downward pressure on prices. The crude oil inventory data to be announced on the same day will also be another focal point for the market. An increase in inventories that exceeds expectations may reinforce demand concerns and increase selling pressure on WTI prices.