WTIUSD

Crude oil prices this week will focus on the direction of economic activity in the US and supply-demand dynamics. The US ISM Manufacturing and Services PMI data to be released on Monday and Wednesday will shed light on the economic health of the world's largest oil consumer and thus the demand outlook. PMI figures that exceed expectations could create an upward effect on oil prices by supporting demand expectations. Additionally, the weekly crude oil inventory data from the Energy Information Administration (EIA) to be released on Wednesday will be closely monitored as an important indicator of the short-term supply-demand balance.