Gelonghui April 30| WTI crude oil futures fell below $82 per barreldoublebonusstrategy, extending the largest decline in two weeks. Analysts said a possible ceasefire in the Middle East could ease political tensions in the region and sticky signs of inflation that are not conducive to demand have weighed on oil prices. Israel and Hamas are close to reaching an agreement to release the hostages, according to two people familiar with the negotiations. At the same time, the U.S. labor cost index accelerated in the first quarter, indicating that wage pressures persist, leading to high inflation. Inflation in Europe is also very stagnant. Crude oil prices were very bumpy in April. Conflicts in the Middle East and Russia and Ukraine and supply restrictions from OPEC + have boosted prices. But uncertainty about U.S. monetary policy and weakness in some fuel markets such as diesel are offsetting these bullish factors.
