Recession and FED Fears keeping Oil LowerMy favorite phrase is "Recession Trumps All" and its keeps pressure on Oil. The FED screwed up the last rate hike and if they increase the next hike by .25% it'll just drag this out longer so they need a .75% increase and do it now while China is still early in full-blown demand and before the US economy strength starts adding upside pressure to Inflation, the US is like a slow dying animal just put it out of its pain and get this over with plus they figure that Intrest Rates need to hit 8% for 2% Inflation bump it up to 5.50% and leave the economy be for 2 months or less and see the rate of decline or we'll live under this cloud of stupidity well into 2024+. Tomorrow US ISM Non-Manufacturing PMI at 10am along with the other few and if it comes in with a bullish reading, expect pressure to remain on Oil. Russia is still pumping all it can to Asia and China but Russia is due to lose more revenues once all the newer refineries come online and I'm shocked that Russia sits back selling cheap Oil with everyone making a killing when it's been refined. This week, although we're over $77+ the market is far from bullish all the traders are doing, is running Oil higher just to sell into it, we'll see what Friday brings.