Risk appetite improved sharply International oil prices rose on November 10

Due to the significant improvement of the overall risk appetite of the market, the international crude oil futures price fell in the overnight market, fluctuated higher in the morning of November 10, and then consolidated strongly, narrowed the rise at the end of the day, and rose in international oil prices at the close
.

Light crude futures for December delivery rose $0.
64, or 0.
75%,
to settle at $86.
47 a barrel on the New York Mercantile Exchange by the close of the day.
London Brent crude futures for January 2023 delivery rose $1.
02, or 1.
10%, to settle at $93.
67 a barrel
.

Data released by the US Department of Labor on the 10th showed that the US consumer price index in October was 298.
012 points, up 0.
4% month-on-month, consistent with the month-on-month increase in September, but lower than the market expectation of 0.
7%; The index rose 7.
7% year-on-year, down from 8.
2% in September and 8% expected by the market, the lowest level this year
.

Affected by this, the market's expectations of the Fed's interest rate hike and recession fears have weakened, risk appetite has improved significantly, and the price of risk assets has generally risen
.

Craig Erlam, senior market analyst at Chubb, said the consumer price index released on the day could be the turning point
that investors crave.
Although there was still a lot of pain in the aftermath, the situation suddenly looked a little more positive
.

The dollar index fell sharply by more than 2% on the day due to improved risk appetite in the market, which was positive for dollar-denominated oil prices
.

Christopher Lewis, an analyst at FXEmpire, said that at present, the oil market is more likely to continue to be volatile
because people do not know how the global economy is performing.
There is currently a huge back-and-forth in the crude oil market, with production cuts and supply shortages on the one hand, and declining
demand in some large economies on the other.

In addition to concerns about the epidemic, Matt Smith, leading oil analyst for the Americas at market research firm KPLER, said the withdrawal of Russian troops from Kherson also limited the rise in oil prices
.