US Composite PMI Numbers out todayThis is a great measurement of business activity and the US and is not going to get better till 2024 as the FED will continue to raise interest rates higher and for longer will be the final nail in the coffin. The US is the second-largest Oil consumer so with China and the US down for the count it's going to be hard to find reasons for Oil to rally
The S&P Global US Composite PMI fell to 44.6 in December 2022 from 46.4 in the previous month, signaling the joint-fastest decline in business activity for over two-and-a-half years
US Composite PMI