Crude Oil Near 2022's Low

www.investing.com/analysis/crude-oil-near-2022s-low-200632841

By Naeem Aslam | Nov 28, 2022 03:55AM ET

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LCO

-1.61%

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-2.08%

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Crude and Brent oil prices continue to struggle on the first trading day of the week as investors are apprehensive about the COVID related issues that are emerging in China. Demand, a potential recession and now the COIVD issues in China are making things difficult for oil traders.

The reality is that no one wants to see more lockdowns in China, as a situation like this creates nothing but more headwinds for oil prices.

Nonetheless, OPEC’s meeting remains the main anchor for oil prices this week. Oil prices are likely to remain highly volatile as prices are likely to react to all kinds of rumors. So far, what is priced in the market is that OPEC and its allies aren’t going to increase any production. Anything which deviates from this could make the price swing

Crude Oil Weekly Chart

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Central Banks

Interest Rates

Next Meeting

FED

5.50%

Dec 13, 2023

ECB

4.50%

Dec 14, 2023

BOE

5.25%

Dec 14, 2023

SNB

1.75%

Dec 14, 2023

RBA

4.35%

Dec 05, 2023

BOC

5.00%

Dec 06, 2023

RBNZ

5.50%

Feb 28, 2024

BOJ

-0.10%

Dec 19, 2023

CBR

15.00%

Dec 15, 2023

RBI

6.50%

Dec 08, 2023

PBOC

3.45%

BCB

12.25%

Dec 13, 2023

US 30	36,259.0	+308.1	+0.86%
US 500	4,596.3	+28.5	+0.62%
Dow Jones	36,245.50	+294.61	+0.82%
S&P 500	4,594.63	+26.83	+0.59%
Nasdaq	14,305.03	+78.81	+0.55%
S&P 500 VIX	12.63	0.00	0.00%
Dollar Index	103.125	-0.303	-0.29%

Crude Oil WTI	74.38	-1.58	-2.08%
Brent Oil	79.56	-1.30	-1.61%
Natural Gas	2.777	-0.025	-0.89%
Gold	2,073.20	+35.10	+1.72%
Silver	25.490	+0.197	+0.78%
Copper	3.9195	+0.0690	+1.79%
US Soybeans	1,323.75	-18.25	-1.36%

U.S. 10Y	4.209	-0.015	-0.36%
U.S. 30Y	4.392	-0.025	-0.55%
U.S. 5Y	4.141	-0.013	-0.33%
U.S. 3M	5.388	-0.000	-0.00%
US 10Y T-Note	110.45	+0.98	+0.90%
Euro Bund	133.38	+1.03	+0.78%
10-2 Yield Spread	-34.38	+2.26	+-6.17%

Apple	191.24	+1.29	+0.68%
Alphabet A	131.86	-0.67	-0.51%
Tesla	238.83	-1.25	-0.52%
Amazon.com	147.03	+0.94	+0.64%
Netflix	465.74	-8.23	-1.74%
Meta Platforms	324.82	-2.33	-0.71%
Bank of America	30.95	+0.47	+1.53%

Crude Oil Near 2022's Low

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