What a shocker that Oil is selling offBack to $85 again even trading a tad below. China is a joke! can't count on them other than ridiculous remarks saying that COVID is under control and they are so sure that COVID is under control that they reduced the quarantine time from 7 days to 3 which shows how stupid the government is and not seeing that by reducing the times that they are just feeding the fire as the public stay home for less than a couple of days so expect a news headline to come out saying that China is now under full lockdown as COVID spreads out of control. The global demand for Oil weakens more every week as higher interest rates start to take hold plus additional rate hikes will all but guarantee that a global recession is in sight. Look at Canada's Inflation numbers released today which haven't changed since July and this is after raising Interest rates to 3.75% so dont expect the US Inflation to change any faster and as they head into 6%'s it gets harder to shed points just look at Canada stuck in the 6%'s. Times will only worsen until there's a reason to push Oil over $90 like creating BS news release stating that China is great and the economy is bullish. Thanks to OPEC Oil has firmed up and volatility has been eliminated. lol
Canada Inflation 