Tag Archives: Oil Prices

Oil prices fell on Tuesday, giving up most of the gains made in the previous session, after Saudi Arabia, the world’s largest oil exporter, announced its intention to cut production further. Brent crude futures fell 23 cents, or 0.3 percent, to $76.48 a barrel by 0020 GMT. US West Texas …

Dubai TV interviewed Mohammed Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, to comment on the most important developments in financial markets in the previous week.US Debt Ceiling DealHashad began commenting on the breakthrough of the US debt ceiling crisis. …

Oil prices rose by more than $1 a barrel on Monday after Saudi Arabia, the world’s largest oil exporter, pledged to cut production by an additional 1 million barrels per day from July 1, as it tackled the unfavorable macroeconomic conditions that dampened markets. Brent crude futures rose $1.08, or …

Financial assets’ price moves along past week have been led by a number of major developments most notably: the US non-farm payrolls data shortly after the US debt ceiling deal, as well as the European inflation data.Oil Prices Hope For More Optimism Oil prices rallied for the second day on …

Oil prices have rallied for the second day on Friday as global markets breathe a sigh of relief after the US Senate votes through the debt-ceiling extension bill, vaulting the final hurdle prior to implementation. The possibility of OPEC+ announcing more production cuts at its June 4 meeting further supports …

After Republicans boycotted talks with President Biden over raising the debt ceiling, the price of oil reversed gains and fell on Friday. The US Dollar falls as demand for safe-haven assets declines as concerns over the debt ceiling ease; oil is primarily priced in USD. After House Speaker McCarthy left …

The USD/CAD pair made a U-turn after hitting a daily high of 1.3567 due to overall US Dollar weakness, spurred by a risk-on impulse and higher oil prices. Canadian housing started increasing by 22% in April, with total units rising to 261,600. Data from Canada underpinned the CAD, with Canadian …

The dollar remained close to a peak of more than a week on Friday after a slew of data released overnight indicated a slowdown in the US economy, as investors bet the Federal Reserve would halt interest rate increases. The dollar index, which measures the performance of the US currency …

The euro fell on Friday after economic data painted a mixed picture on growth and inflation in the euro-zone, adding to uncertainty about the percentage by which the European Central Bank is expected to raise interest rates next week. Preliminary data showed gross domestic product in the euro zone grew …

Data from the Energy Information Administration on Wednesday showed that US crude oil inventories fell more than expected due to refinery consumption and higher exports, while gasoline inventories rose unexpectedly due to disappointing demand. Crude stocks fell by 4.6 million barrels in the week ending April 14 to 466 million …