The easing of the zero-Covid policy in China was set to boost energy and indices, but has not as of yet. "Crude oil is at a lower level since January 2022. This tells investors that there are real global growth demand fears. Also, I do not think that the Russian oil caps are doing their intended job. Crude oil is going out of Russia and into Asian countries. There is a strong buy for crude oil futures under $70," says Phil Streible.
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