Oil prices pared earlier gains and fell on Thursday, after a day of sharp declines caused by US interest rate hikes, but the attention was still focused on the supply shortage. Brent crude futures fell 45 cents, or 0.4 percent, to $118.06 a barrel, while West Texas Intermediate crude futures …

The Bank of England (BoE) announced its monetary policy decision this Thursday and hiked rates for the fifth consecutive time to curb soaring inflation. The nine-member Monetary Policy Committee (MPC) voted 6-3 for the 25 bps hike in the bank rate to 1.25%, with the minority – Catherine Mann, Jonathan …

European shares fell on Thursday after the US Federal Reserve’s decision to raise interest rates bolstered fears of a possible recession at a time when global economies are facing soaring inflation. The pan-European Stoxx 600 index was down 0.4 percent by 0710 GMT, although European stock futures recovered overnight after …

The Japanese Nikkei index halted a four-session losing streak on Thursday, boosted by a rally in US stocks last night after the Federal Reserve raised interest rates by 75 basis points, as expected. But the bleak outlook for the global economy amid continued risks related to the sharp tightening of …

An OPEC+ document seen by Reuters and citing secondary sources showed on Thursday that Russia’s crude oil production rose to 9.273 million barrels per day in May from 9.159 million in April. Total production by members of the Organization of the Petroleum Exporting Countries (OPEC) and their allies including Russia, …

Markets are awaiting today, Thursday, the Bank of England interest rate decision, amid expectations that it will raise rates for the fifth time in a row since last December, which represents the largest rate hike in 25 years and is expected to continue with inflation heading towards recording double digits. …

Oil, Crude, trading

Mixed trades dominated the movements of GBP/JPY during the previous trading session, within attempts to provide a positive bias, building on stability above the support floor 162.30. Technically, and carefully looking at the 60-minute chart, we find the 50-day simple moving average trying to push the price to the upside …

The Canadian dollar found a pivotal resistance level at the psychological barrier of 1.3000, which forced it to trade with limited negativity towards retesting the 1.2885 support level, which hovers around the pair’s current trading. Technically, the daily trend is still bullish, but we may witness a bearish bias in …

Oil, Crude, trading