EIA will push crude oil to continue upward

jingli
2023-04-04

I just hope that I will become more and more courageous on the road full of thorns, never give up in the face of life's difficulties, and dare to make choices on the dangerous chessboard~ Last week, global stock indexes suffered heavy losses, and crude oil also had a strong short decline. According to the logic of economics, there is a positive correlation between crude oil and the stock market, because the stock market is a barometer of the economy. Generally speaking, a decline in the stock market proves that the economy is going downhill. When the economic depression reaches a certain level and the situation deteriorates, the demand for crude oil will be greatly reduced. At this time, the supply of crude oil exceeds demand, and due to the influence of supply and demand, the price of oil will drop, so it has also staged a state where commodities and the stock market have fallen together in the near future. With the expectation of a strong economic recovery, European and American stock indexes ushered in a strong recovery after the plunge, which directly drove crude oil to usher in a V-shaped reversal, reaching the $72.4 mark within the stage. $Light Crude Oil - main 2305(CLmain)$

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