Oiling the wheels

During a week with minimal market-moving data and few central bank announcements, attention in the financial markets has turned towards the oil sector. This shift is primarily due to a significant drop in oil prices, which have reached three-month lows, with Brent crude trading at approximately $80 per barrel. In our charts this week we look at the following factors:

• Record-low global supply chain pressures
• The recent retreat in global commodity prices
• Sticky euro area inflation expectations
• Negative FDI flows in China
• The weakness of the UK's trade flows with the EU
• Weaker credit growth in the US