The first week of 2023 was pretty difficult for crude oil futures. This result was driven by very mild winter weather conditions in the Northern Hemisphere.

According to Bloomberg, citing traders, Beijing organizes the purchase of crude oil, which is then transported to Europe.

The gold price grew shortly before the release of inflation data from China, Japan, and the US. The risk profile remains stable because China opens its borders after three years of travel restrictions.

On the agenda, on January 5, are stocks of crude oil and petroleum products, natural gas reserves, as well as the production of gasoline and distillates. On January 6, the number of drilling rigs from Baker Hughes is in the spotlight.

It is unlikely that gasoline prices in the United States will fall below $3 per gallon this year as oil drives gasoline prices up, as reported by an AAA spokesman.

This Thursday, a notable fall in U.S. natural gas futures was registered, with prices hitting the lowest levels in 10 months.

The focus is on the data on oil rigs from Baker Hughes and speculative positions on oil and gas, gold and silver.

On Wednesday, API informed that the crude oil reserves in the US were reducing for the second week. This happens amid the common concern of the demand’s prospects on the backdrop of a sharp increase of coronavirus cases in China.

Oil prices continue to show a negative growth, driven by Covid-19 outbreaks in China. Such a complex infectious situation in the country has a negative impact on fuel demand recovery.

Crude oil and petroleum products reserves, natural gas reserves, as well as gasoline and distillate production are on the agenda.