January 2, 2025 (Investorideas.com Newswire) Investorideas.com, a go-to platform for big investing ideas releases market commentary from Terence Hove Financial Markets Strategist Consultant to Exness.
Crude oil futures could see better prospects as traders return from the holiday break, focusing on a potential recovery in China's economy and fuel demand. President Xi Jinping's pledge to implement growth-supportive policies in 2025 has prompted market participants to assess the broader economic outlook. With China being the world's largest oil importer, a recovery in its economy could provide support to global crude prices by driving increased demand. However, U.S. trade policies under President-elect Donald Trump could introduce volatility, potentially weighing on prices.
Recent economic data from China showed mixed signals, with factory activity growing at a slower pace than anticipated in December, raising concerns about the broader economic outlook and risks associated with U.S. tariffs. While this could weigh on global crude prices by limiting the pace of demand recovery, a rebound in services and construction sectors indicates that policy stimulus is starting to take effect, providing some support. The balance between these factors will be key in determining the strength of the economic recovery and its impact on crude demand.
In the U.S., oil demand surged to its highest levels since the pandemic in October, while crude output reached record highs. Despite this, oil prices are expected to remain constrained in the short term, as increasing global supply may counteract efforts by OPEC+ to stabilize the market.
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