WTI Crude Oil Prices
Crude oil prices appeared to be excessively suppressed last year. Since inflation was a key issue in the presidential election, crude oil prices were thoroughly managed until the end of the presidential election, moving on the basis of support of the average for the month of June.
Since crude oil prices fell significantly from September to December in 2023, inflation quickly appears when crude oil prices rise after September 2024. In order for crude oil prices to remain in the negative range, it was necessary to manage crude oil prices not to rise until the second week of December, when crude oil prices were the lowest in 2023.
However, since oil prices rose quickly from the third week of December 2023 to early April of the following year, there is not much need to manage crude oil prices after the third week of December, indicating that crude oil prices have since turned to an upward trend.
Since Yellen, the Treasury Secretary, was chairman of the FRB, managing prices using crude oil prices has been a strategy. Crude oil prices may now rise under the influence of supply and demand as Yellen finishes her term in office after the Biden administration is over.
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