Oil Edges Higher as Traders Weigh China’s Outlook, I think that the FED only doing a .25% is too soon in cutting back, US Inflation rate peaked at 9.1% in June and 6 months later we have only dropped 2.6% to 6.5% so let's see if the next drop is into the 5%+ and to hit 2% we still have 4.5% to go so you can see that if they hit the brakes with another .75% we would shed a lot more in 6 months than 2.6% and it's going to get harder to shed points as we head into the core, so the way it is now we'll have high-interest rates with high inflation for longer not the way to go and maybe we start a new bull market 2024, I have learned that it takes as long to get out of trouble as it did to get into it and inflation took off from 2% back in 2021 this will go into 2024 a slowing economy if 2% has to be hit. The FED is a hell of a lot smarter than any of us but that doesn't always guarantee that things will work out the way that they plan, some mistakes happen because the following generation ends up doing the same mistakes as the veterans have made in the past, knowledge and wisdom is power and it comes with time. Oil should be higher tomorrow and the US has no reason to sell so if Oil gets back to $79 before Fri US Unemployment Rate and Non-Farm Payrolls we'll take it. Next week could be bullish with no US data other than Oil Stock and with EU Oil could edge higher as the risk of Russia overreacting towards EU edges closer, I think that Russia will be fine with it at first because they know its coming and you can be sure of it that they will focus all their energy on avoiding it all and mass shipping of Oil continues.
Oil Edges Higher as Traders Weigh China’s Outlook, Weaker Dollar - BNN Bloomberg US Inflation Rate 