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9 December 2022 | Other

Oil prices stabilize after a rapid decline during this week

Brent
WTI Light Crude Oil

There has been a rapid decline in crude oil prices this week due to fears of a recession in the U.S. in 2023. The threat of an economic downturn is driven by high levels of inflation and continued interest rate hikes.

At the same time, markets didn’t react strongly to an emergency shutdown of the Keystone pipeline after a recent oil spill in Kansas. Analysts even noted that disruptions in supply didn’t have a significant impact on demand. 

Markets are mostly focused on U.S. producer inflation data for the previous month. It will be released later on Friday, December 9. Levels of inflation are expected to get slightly lower than in October. However, markets continue to cautiously search for signs of potentially higher price pressures.

Company MarketCheese

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Forecasts

Brent buy
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Buying Brent crude with $106.00 in mind
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09 October 2026 26
Sinclair_John
USDCAD buy
Period: 09.11.2026 Expectation: 3000 pips
Invest in USDCAD up to 1.45000
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09 October 2026 32
Reed_Marcus
GBPUSD sell
Period: 29.10.2026 Expectation: 800 pips
Sell GBPUSD down to 1.3180
FA Other TA Other
08 October 2026 59
McCarthy_Raymond
Brent buy
Period: 05.11.2026 Expectation: 300 pips
Buy Brent crude with $103 in sight
FA Other TA Other
08 October 2026 29
McCarthy_Raymond
Gold sell
Period: 22.10.2026 Expectation: 180 pips
Gold sell-off targets $3,940
Indicators and reports FA Other Indicators Hot news
08 October 2026 44
Reed_Marcus
USDJPY sell
Period: 08.11.2026 Expectation: 6200 pips
Go short on USDJPY with 152.00 in view
Indicators and reports FA Other Indicators Hot news
08 October 2026 72
Sinclair_John
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