Ken Hasegawa

Oil prices may soften if there is an increase in stocks in the U.S. - we can expect a continued increase of inventories, brent and WTI continue to trend sideways, with WTI facing more volatility. Brent has been descending for the past few days and we believe that it is hovering near a support level.

We have to see China's data in totality, but this time, the PMI data is not good, this means the recovery in China and the rest of Asia will take more time.

Nothing has changed on the supply side. Unless there are some supply cuts, oil markets can't be strong at the moment.

There's no sign of any reduction of output by OPEC. by Ken Hasegawa

There's no sign of any reduction of output by OPEC.

Following the long and steep decline in oil prices, we have seen some buying interest in recent days, but there is still a lot of selling pressure.

But for now there is no significant halt in production and no change to the supply and demand situation, so oil prices can still go lower.