WTIUSD

Crude oil prices are under pressure due to signals of a slowdown in the global economy and the possible negative effects on oil demand. Weak economic data from China and strong production outside of OPEC+ keep concerns about an oversupply in the spotlight. Today's release of the weekly Crude Oil Inventory data will be significant for the market's near-term direction. An unexpected increase in inventories could reinforce demand concerns, increasing selling pressure on WTI prices. For now, price increases remain limited to geopolitical risk news.