WTI retreats from a multi-week high and holds above $80.20, Chinese PMI eyed – by lilyfinancial Oil WTI Commodities
from multi-week highs following the US Personal Consumption Expenditures Price Index and the Michigan Consumer Sentiment Index on Friday. Oil traders will keep an eye on the Chinese inflation data and developments about the Chinese stimulus plan for fresh impetus later in the day.
That said, China, the world’s second-largest oil consumer, signaled additional support for the real estate sector and measures to stimulate domestic consumption amid a sluggish post-COVID recovery.
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