Reason given for Oil sell off / I'm done bashingWhen you read this it's like reading my post that I get bashed for and it's in line with the timing of my postings that started in mid-June when Oil was at $110. Off-topic I have only bashed posters after they have started to bash me, I'm done bashing because it's counterproductive and I don't need to sink to their level. And to date, I haven't put anyone on ignore I make my own decisions if I want to read them or not and posters shouldn't try to correl anyone into doing what they want you to do. I'll be the bigger of the two and leave my thoughts of posters off the billboard.
WTI crude futures stabilized near $92 per barrel on Wednesday but were still on track to decline for the third straight month on a weakening demand outlook as aggressive rate hikes by major central banks threatened global growth, while top importer China adheres to a strict zero-Covid strategy that is derailing recovery. WTI is down more than 6% so far in August, with the US Federal Reserve remaining committed to tighter policy to quell inflation. The European Central Bank is also reportedly discussing a more aggressive policy move, even as an energy crisis escalated recessionary risks in the region.