Oil Falls as Demand Concerns Counter Middle East Escalation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
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Source: Bloomberg
Oil Market Reaction: After a significant gain, oil prices fell 1% amid concerns over a slowing US economy and geopolitical tensions in the Middle East, particularly Iran's threats against Israel following recent conflicts.
Economic Indicators and OPEC Response: Data indicating a contraction in US crude demand has led to cautious trading, while OPEC+ remains non-committal on output policy amidst ongoing market volatility and expectations of potential monetary easing in the US.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
