Crude oil prices have reached bottom

Issues of demand and supply remain key considerations for crude oil. There are currently some signs of support for crude oil. Oil prices fell below 75 this week and have been repeatedly testing upwards around 75. If the current price falls further, market participants will worry about an economic recession. In the short term, crude oil returns to the 80 area and continues to test back and forth.

All in all, the crude oil market's recent performance has been characterized by volatility, but signs of support have emerged. While questions surrounding demand, supply and geopolitical impacts remain, the potential for a short-term rebound is clear. It is unlikely that crude oil will fall sharply again, and the overall outlook is bullish.

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77.33

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