![]() ![]() ET (2130 GMT) on Tuesday, and the Energy Information Administration due at 10:30 a.m. The poll was conducted ahead of reports from the American Petroleum Institute due at 4:30 p.m. crude oil stocks were expected to have risen by about 1.1 million barrels last week, a preliminary Reuters poll showed on Monday. Moscow calls its actions in Ukraine "a special operation". 5 and will be followed by a halt on oil product imports in February. The European Union ban on Russian oil, imposed in retaliation for Russia's invasion of Ukraine, is set to start on Dec. "The market is facing the deadline for European imports of Russian oil before sanctions kick in," ANZ added. ![]() "This, along with a slowdown in China fuel demand, are reasons for the pull-back in oil futures prices in the past few months."īut the near-term fundamentals for oil remain bullish, with the focus returning to supply issues, ANZ Research analysts said in a note. "On the back of sticky inflation and rising interest rates in major western countries, oil futures are still pricing in the possibility of a global economic recession," said Teng. CPI data this week for trading cues, CMC Markets analyst Tina Teng said. ![]() Market participants will be eyeing the U.S. ![]()
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