Tag Archives: Oil Prices

The bulls are firmly back in control of global oil markets following a series of bullish catalysts over the weekend which has sent the front-month WTI future as nearly $5.0 higher on the session to test the $110 per barrel area. As the Russian invasion of Ukraine rumbles on and …

The Canadian dollar touches its strongest since 3 March at 1.2596. The Canadian dollar was little changed against its US counterpart on Friday, with the currency holding near a two-week high as oil prices rose and domestic retail sales data pointed to consumer spending remaining strong at the start of …

The US Dollar remained under selling pressure throughout the day, accelerating its slump ahead of the London fix. The USD was affected by persistent weakness in government bond yields following the hawkish Federal Reserve’s announcement on Wednesday.Economic DataWTI crude has climbed near USD 102.00 as IEA renewed fears of supply …

The American dollar ended the day lower after the US Federal Reserve monetary policy decision. The US central bank hiked rates by 25 bps, as expected, with Bullard being the only dissenter voting for a 50 bps hike. Economic Data Canadian inflation hit 5.7% YoY in February, according to Statistics …

The Federal Reserve has just raised its benchmark interest rate for the first time since 2018, but it is already time for the market to look beyond this move. While there are complicating factors such as the war in Ukraine, the most prominent issue for the Fed is that economic …

The International Energy Agency said on Wednesday that three million barrels per day of Russian oil and its products may not reach the market by the beginning of April, in the wake of Russia’s invasion of Ukraine. “Of the cutback, we see a reduction in total exports of 2.5 million …

The US dollar pulls back to 1.2780 from 1.2870 highs. The Canadian dollar appreciated favored by a brighter market mood. USD/CAD is now testing trendline support at 1.2780.The US dollar’s recovery from last Friday’s lows sub-1.2700 has found resistance at 1.2870 highs earlier Tuesday. The pair has dropped about 0.7% …

Canada’s benchmark index extended losses for a third straight session on Tuesday, as weakness in energy and metal prices due to rising COVID-19 cases in China weighed on commodity stocks.The Toronto Stock Exchange’s S&P/TSX composite index was down 161.23 points, or 0.76%, at 21,019.55. The energy and materials sectors fell …

WTI futures pick up to $98.00 from three-week lows at $93.40. Oil prices plunge on easing supply concerns and COVID-19 cases in China. From a wider perspective, US oil futures remain biased lower.The US benchmark crude oil futures are attempting a mild correction on Tuesday’s US trading session. Front-month West …

Friday’s trading day fluctuated between risk-on/off, on reports from Russia saying that its President Putin seen certain positive shifts in talks with Ukraine, while Ukraine Foreign Minister, saying the opposite. That said, the GBP/USD is trading at 1.3035, down 0.39%.Economic DataUS energy firms this week added oil and natural gas …