Oil prices hit a 4-month low on June 4 despite OPEC+ extending its production cuts into 2025. The beginning of voluntary increase, an unexpected inventory build and signals of a slowing US economy have experts discussing the future of oil markets.
Despite escalating tensions globally, oil prices dropped for a third consecutive day on Tuesday, May 21, driven by an oil inventory build and the Fed's stubborn stance against falling inflation.
Crude oil prices fell on Tuesday due to rising inflation and demand concerns. However, the oil market faces significant uncertainty around the Fed, OPEC's production cuts, and weakening China indicators.
WTI is surging toward $100 after OPEC+ cuts extension in early September, supported by the latest API and China data. However, concerns about the impact of higher prices on inflation and the possibility of a recession in the US loom.
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