March 7, 2023
Via: DailyFXCrude oil is looking for its 6th consecutive positive day this Tuesday which has gathered steam from positivity around the Chinese economy. Although China revised growth forecasts (GDP) higher to 5% after a roughly 3% last year, markets were expecting […]
February 14, 2023
Via: DailyFXBrent crude oil is bid this morning finding support from a weaker U.S. dollar which will likely be the main driver of market pricing today. From a crude oil perspective, OPEC is scheduled to release its monthly market report later […]
February 8, 2023
Via: DailyFXCrude oil has held onto overnight gains with the WTI futures contract trading above 77 U.S. Dollars and the Brent contract is trading over 83.50 U.S. Dollars. Risk assets were generally buoyed going into the Asian session by the perception […]
January 19, 2023
Via: DailyFXWTI crude oil prices fell 2.36 percent on Wednesday, marking the worst single-day drop in two weeks. The deterioration in energy prices was not an isolated event. A closer look at an intraday chart shows that oil prices fell alongside […]
January 18, 2023
Via: DailyFXChina yesterday reported better-than-expected December growth figures, fueling thoughts that one of the world’s largest growth engines may be moving into a higher gear. While the data was still sharply lower than the prior quarters, GDP, retail sales, and industrial […]
Energy, Finance Tech, Industries, Liquidity
January 5, 2023
Via: DailyFXThe Japanese Yen clawed back prior session losses against the US Dollar today, as did crude oil. Currency and commodity markets have started the year with a volatility breakout, with many markets whipsawing in the opening stanza of 2023. USD/JPY […]
January 4, 2023
Via: DailyFXCrude oil made a two-week low today as markets started the new year on a nervous note with economic prospects under question amid further tightening from central banks. Crude has steadied so far today with the WTI futures contract near […]
December 9, 2022
Via: DailyFXBRENT CRUDE OIL FUNDAMENTAL BACKDROP Brent crude oil remains under pressure despite trading marginally higher this Friday. Crude oil fundamentals including both API and EIA weekly crude inventory numbers showing bigger declines than expected have not been enough to overcome […]
November 17, 2022
Via: DailyFXBRENT CRUDE OIL FUNDAMENTAL BACKDROP Brent crude oil prices are trading relatively flat this morning as the rumors around Russian missiles striking Poland is quickly dissipating. The consequence of such actions would have severely disrupted the supply-side should NATO nations […]
November 16, 2022
Via: DailyFXCrude oil has had a whippy week so far with industry reports, data and geopolitics all impacting prices. Earlier in the week, the Organization of Petroleum Exporting Countries (OPEC) cut their demand forecast for the fourth quarter again. They also […]
October 28, 2022
Via: DailyFXThe price of oil trades back above the 50-Day SMA ($86.68) after defending the monthly low ($80.87), and crude may continue to retrace the decline from the monthly high ($93.48) as it breaks out of a bull-flag formation. OIL PRICE […]
October 26, 2022
Via: DailyFXDecember WTI crude oil futures posted a monster week a couple of weeks back that kicked off the notion that we had seen the worst of oil’s decline off the late-spring highs. Within the context of a longer-term uptrend the […]
October 17, 2022
Via: DailyFXBRENT CRUDE OIL FUNDAMENTAL BACKDROP Brent crude oil opened the week marginally lower after demand side fears continue to overwhelm forecasts despite the recent OPEC+ supply cut announcement. The macro environment has slipped into further turmoil with the eurozone entering […]
September 19, 2022
Via: DailyFXGold slipped again today as the US Dollar found some traction with Treasury yields maintaining lofty levels going into a busy week for central banks. The non-yielding precious metal is below us$ 1,670 at the time of going to print. […]
September 1, 2022
Via: DailyFXCrude oil prices plunged more than 30% off the June highs with WTI spilling into a key technical support zone. Despite a steep weekly sell-off and a range of nearly 11%, oil continues to trade just above this critical zone […]
August 23, 2022
Via: Markets InsiderThe US’s strategic oil reserves fell to their lowest level in 37 years last week as the releases ordered by President Joe Biden continued. Strategic petroleum reserve (SPR) stockpiles fell to 453.1 million barrels in the week to Friday, according […]
August 8, 2022
Via: DailyFXWTI crude oil made a small recovery in Asia today after hitting a 6-month low of US$ 87.01 on Friday as the US Dollar found support across the board. Data from energy technology company Baker Hughes showed a small drop […]
August 2, 2022
Via: DailyFXCrude oil prices fell to kick off August, putting the commodity on track for a third monthly loss, assuming the nearly 5% drop on Monday is a sign of what’s to come. China’s National Bureau of Statistics (NBS) reported a […]
July 20, 2022
Via: ABC NewsWall Street is tacking a bit more onto its big gains from a day earlier, as more profit reports roll in from U.S. companies on Wednesday. The S&P 500 was 0.8% higher in midday trading, a day after soaring 2.8% […]
July 11, 2022
Via: DailyFXWTI crude oil prices have been rising swimmingly since a bottom was found at the peak of the 2020 global pandemic. Heading into the end of the second quarter, the commodity’s momentum slowed notably. Following the brief spike when Russia […]