Oil and Natural Gas Technical Analysis Following China’s Inflation Decline

Oil and Natural Gas Technical Analysis Following China’s Inflation Decline

From fxempire.com

Crude oil prices dropped on Monday after China’s Consumer Price Index (CPI) increased by only 0.4% in September, missing the expected 0.7%. The lower-than-expected CPI points to weaker consumer spending in China, a major driver of global energy demand. This slowdown could lead to reduced consumption of oil and natural gas. Businesses and households scale back energy usage during economic downturns. Consequently, crude oil and natural gas (NG) prices dropped due to weaker demand and excess supply. Moreover, deflationary pressure was reflected in China’s Producer Price Index (PPI) data. The PPI dropped by 2.8% ... (full story)

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