Please try a new searchPosition successfully added to:Yesterday's UK GDP data and US PPI data were not as expected creating the prospect of a slowing global economy.* The minutes of the FED showing the decision of the bankers to raise interest rates until a clear reduction in inflation is seen.* The core and monthly CPI are expected to be higher than the last release, while the annual analysts forecast a decline in the data.* The reduction proposed last week by members of OPEC + as a strategy to balance prices above $90, although they suggest a lack of supply, create a new scenario of conflict with the US and to a certain extent an advantage for Putin and his war with ukraine, in fact it is possible that the OPEC + decision carries with it more a geopolitical logic, than a strategic one in relation to oil production;however, the day after the words of the president of the white house, Saudi Arabia came out communicating "its total rejection of him" assuring that its decision on the cuts was unanimous and considering only economic implications.* On the other hand, OPEC sharply cut projections of global demand and the amount of crude it will need for this quarter, in the words of members of the organization in its report it cites: "World economic growth has entered a period of significant uncertainty and deteriorating macroeconomic conditions, amid intensifying challenges, including high levels of inflation, tighter monetary policies by major central banks, rising interest rates, and persistent supply chain issues of supply” Analysis of the Volume for this week The decrease in the demand in the future of November has remained slightly stable, decreasing from the maximum very little, as well as the volatility, in the graph it can be noticed in the green valley in the part bottom that represents the accumulated delta in the graph of h1, where the strength of demand is still maintained.Graph of h4, Atas Seasonal Guideline With a filter in the statistics of the middle of the electoral period in the US, October is the last month of rise for oil in the year, with November being the month of strongest falls for said market.It is complex to talk about falls in oil under all the fundamentals explained above, however, if the macroeconomic data do not improve, it is a scenario that cannot be ignored. Seasonality Chart Price Action The 4-hour chart of the WTI price suggests a structure impeccable bullish after last week's bullish momentum that took the price to 93.63 the price has corrected to the 86-89 volume zone, the correction is breaking the bullish trend logic that the price is carrying, therefore, the prices scenarios could be:I'm not going to consider a bullish scenario above this week's highs for the rest of it.Chart of h1 Conclusion The fundamentals show a lot of uncertainty for oil, which could manage to fulfill the seasonal scenario for the coming days and weeks.Although the CPI data in the US is quite positive and there is a rebound, the economic slowdown can strongly affect prices, for now my outlook is bearish in the short term, but you have to keep constantly reviewing the fundamentals for any change that is Present.Well, there is no clear trend, especially for the fundamental aspects.If the CPI data is not good enough, the most likely scenario is a stagflation, that is, a slowdown with high inflation, which would be the fuel to drive the price of oil down.A short, non-intense cold snap is forecast to affect the eastern third of the United States next week Weather models will likely show...Since January 2022, the price of oil begins to rise because the pandemic is almost over and the factories and the world begin to stabilize and begin to...WTI crude is the only one to have had a positive week, despite falling as low as $76.Level from where it recovered, trading in the last weekly session at 89.03...From Investing.com Spain we invite you to interact with other users and share with them your points of view and your doubts in relation to the market.However, in order for the debate to be as enriching as possible, please, we ask you to take into account the following criteria:How does the comments section work?All comments are published automatically as long as they do not violate any of the above rules.As soon as the system detects a possible "infraction", the comment is pending review, so it may take longer to appear on the screen (avoid duplicating comments).If the moderator detects that it is an inappropriate comment, he will proceed to eliminate it.If the user engages in such behavior, we will proceed to temporarily suspend your account and it will count as a first notice.If the behavior is repeated after the first notice, the account will be permanently suspended.Contact Technical Support with any questions that may arise.It is the only way of communication to deal with these issues.Are you sure you want to block %USER_NAME%?By doing so, neither you nor %USER_NAME% will be able to see each other's posts on Investing.com.%USER_NAME% has been successfully added to your blocked users listYou just unblocked this person;you have to wait 48 hours to be able to block it again.Tell us what you think of this comment