![Oil (Brent) May 16, 2024 Technical Analysis Oil](https://traderlab.org/wp-content/uploads/2024/04/Technical-Analysis-Oil-600x400.webp)
Oil (Brent) May 16, 2024
The initial response by oil to weak US economic numbers was to ease, a weaker economy in its biggest user means weaker demand at a time when top oil importer China has been reducing its purchase of middle east oil. From the supply side the US Energy Information Administration reported that strategic reserves dropped more…