In the middle of a sharp and sudden decline in crude oil spot prices and China slowdown fears, the markets are watching for key macroeconomic data that might mean the difference between global growth and recession in the short term. Crude oil spot prices have dropped from peaks of around 122 USD per barrel seen in summer and are heading towards 70 USD per barrel at the time of writing. When the war in Ukraine and uncertainty over energy supplies from the region is taken into consideration, this is an unexpected turn of events supporting the world economy’s efforts to pull away from the COVID-19 pandemic. At the ... (full story)