Why Traders Have Started To Dump Crude

U.S. West Texas Intermediate crude oil futures are trading lower on Friday shortly after the release of a strong U.S. Non-Farm Payrolls report that suggests the U.S. is not in a recession and that the Fed is likely to continue on its aggressive rate hiking path. Prices have come under pressure this week as the traders fretted over the impact of inflation on economic growth and demand, but tight supply has kept a floor under prices. The price action throughout the week has been indicating that traders are taking the threat of recession far more…