Oil, Crude, trading

The technical outlook is unchanged, and the yellow metal did not witness a significant change within a short-term bearish trend, tilting to the downside, stable below the main resistance 1799, to start today’s session by pressing on the support level 1768.00. The technical aspect today needs careful consideration and trading …

Limited sideways trading that tended to the negativity dominated the euro’s movements against the US dollar, maintaining the regular bearish context working within the descending price channel. On the technical side, the current moves of the euro against the US dollar are settling below the resistance level of 1.1380, and …

OPEC expected the oil surplus to increase to 2 million bpd in January, 3.4 million bpd in February and 3.8 million bpd in March 2022. The Organization of the Petroleum Exporting Countries, through a leaked document during today’s meeting, said that the demand for transport fuels in Europe may also …

OPEC and its allies will start two days of meetings on Wednesday to decide whether to pump more oil into the market or curb supplies amid slumping oil prices and concerns that the mutated Omicron strain of the coronavirus could dampen global energy demand. According to a document cited by …

European shares rose on Wednesday as bargain hunters returned from the November turmoil, but investors remain concerned about whether the emergence of the new mutated Omicron from the coronavirus will affect economic activity in the winter months. The pan-European Stoxx 600 index rose 0.8 percent by 0816 GMT, following in …

The UK manufacturing sector activity expanded less than expected in November, the final report from IHS Markit confirmed on Wednesday.  The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) was revised lower from 58.2 to 58.1 in November, missing an estimation of 58.2. “Manufacturers are facing a challenging …

Markets are still concerned about the Corona mutant, Omicron, and the first case was detected in Japan, despite the country closing its borders to arrivals from other countries. Spot gold rose 0.3 percent to $1,778.56 an ounce. US gold futures rose 0.2 percent to $1,780.60. On Tuesday, gold fell to …

Oil prices rose more than 3 percent on Wednesday, offsetting some sharp losses incurred during the previous session, as major producers prepare to discuss how to deal with the threat to fuel demand from the mutated Omicron. Brent crude futures rose $2.46, or 3.6 percent, to $71.69 a barrel by …

Japanese stocks closed higher in choppy trading on Wednesday after three consecutive sessions of heavy losses, but uncertainty over the impact of the omicron capped gains. The Nikkei index ended trading on Wednesday, up 0.41 percent to 27,935.62 points, after rising nearly 1 percent. The broader TOPIX index compensated for …