RBC: Oil prices will continue to fall, Brent crude may fall to $70

On February 13, Jinshi data, official data showed that US crude oil inventories rose again. At the same time, in January, US CPI was higher than expected, causing traders to further lower their expectations of a Fed rate cut, as well as the uncertainty brought about by Trump’s trade policy. Under these influences, oil prices ended a three-day pumping trend on Wednesday and continued to fall on Thursday. Ipek Ozkardeskaya, senior analyst at Swiss Bank, stated in a report: ‘Potential geopolitical risks from the Russian side are diminishing, expectations of a Fed rate cut are cooling, and unknown tariff policies are casting a shadow over the global economic outlook, which may prompt a fall in US crude oil prices and force Brent crude prices to fall to $70 per barrel.’