WTIUSD

This week, the critical data in the crude oil market will be the U.S. crude oil inventories to be announced on Wednesday. Last week, the stock decrease of 5.836 million barrels supported oil prices. If a similar decline is observed this week, the rise in oil prices may continue. Employment data from the U.S. will also shape demand expectations. A slowdown in employment growth and an increase in unemployment could negatively impact oil demand by triggering concerns about a slowdown in economic activity. Although the Manufacturing PMI data from China exceeded expectations at 49.7, remaining in the contraction zone indicates that the demand outlook in the world's largest oil importer is still weak.