Oil prices suddenly hit bearish news! OPEC has cut its oil demand outlook for the third time, and the expectation of "oversupply" may become a reality.
OPEC has continuously lowered the global oil demand growth rate forecast for three consecutive months; Iraq has significantly restricted production, approaching but still exceeding quotas.
Occidental Petroleum On Pace for Largest Percent Decrease Since October 2023 -- Data Talk
WTI plummeted nearly 5% at one point! Economists warned: Saudi Arabia may increase production to launch a battle for market share.
Previously, there were media reports that individuals familiar with Saudi Arabia's thinking revealed that Saudi Arabia will abandon the $100 per barrel oil price target and strive to resume oil production growth in December this year.
The sharp drop in oil prices has pushed down inflation expectations, with the 'global asset pricing anchor' falling back from its two-and-a-half-month high.
Crude oil futures prices fell sharply by over 5%, while USA 10-year Treasury bond prices saw the largest increase in two weeks.
Crude Futures Sink As Risk Of Supply Disruption Fades -- Market Talk
Daily short sale tracking: SoFi Technologies's short volume increased by 6 million, with a short sale ratio of 9%
SoFi Technologies(SOFI.US) ranked top of the list had the largest change in short volume (6.81 million shares), and the short volume ratio of Magnolia Oil & Gas(MGY.US) reached 38.78%. See more about the top 10 list of short selling volume changes in the latest trading day of the US stock market.