Gelonghui May 24| Analyst Sagar Dua saidfreespinswelcomebonus, WTI crude oil futures seem to close down this week. Today, oil prices fell for the fifth consecutive trading day. Although the U.S. CPI report is expected to decline in April, Federal Reserve policymakers still maintain tough interest rate guidance, putting pressure on oil prices this week. Given the strength of the U.S. labor market, Fed officials are uncertain whether the downward inflation process will resume. Policymakers made clear they would consider cutting rates only if they were more confident that inflation would continue to return to the expected 2%. The next trigger for oil prices will be the OPEC meeting scheduled for June 1, when member states discuss supply policies. At its last meeting on April 13, OPEC + did not change its current voluntary production reduction plan of 2.2 million barrels per day.
