Tag Archives: Oil

The US dollar continued to rise on Friday, taking advantage of the negative factors that dominated the markets last week with Federal Reserve officials and their statements to raise interest rates at a faster pace. The euro and the British pound fell to a one-month low against the safe-haven US …

The US dollar gained 0.73% to 136.87 against the Japanese yen, the strongest since July 27. Sterling tumbled 1.03% to $1.1813 and had its biggest weekly drop against the dollar since September 2020.The US central bank needs to keep raising borrowing costs in order to tame high inflation, as clearly …

US crude oil futures prices jumped to achieve noticeable gains within the previously expected track during the previous report, exceeding the required official target 90.00, recording its highest level during the morning session of 91.00. Technically, by looking at the 4-hour chart, we find the simple moving averages returned to …

The US dollar has strengthened all along US trading hours as best performer. Market players assessed several encouraging US macroeconomic readings that suggest the economy has a good chance to avoid recession, despite technically being in.Economic DataEconomic data refers to Initial Jobless Claims declining to 250,000, below expectations, Philly Fed …

OPEC’s new secretary general Haitham al-Ghais said on Thursday that he was relatively optimistic on the oil market outlook for 2023 and added that the world was dealing with economic pressures of inflation in a very good way.“I want to be very clear about it – we could cut production …

Negative trading dominated the US crude oil futures prices within the expected bearish context, during which we targeted 85.00, to be satisfied by recording the lowest level at 85.40. Technically, the current oil movements show a bullish tendency after finding a good support floor near 86.00 accompanied by positive signs …

The US dollar finished Wednesday higher against most major rival currencies on Wednesday, despite suffering a near-term retreat following the release of the FOMC Minutes. The US dollar posted modest advances against safe-haven currencies, with USD/CHF trading around 0.9510 and USD/JPY at 135.00.Gold trades at $1,762.70 per ounce at the …

The International Energy Forum said on Wednesday, citing data from the Joint Organizations Data Initiative (JODI), that Saudi Arabia’s crude exports in June rose to 7.20 million barrels per day from 7.050 million in May. The data showed that demand for Saudi crude rose 364,000 barrels per day to 2.79 …

Oil prices fell on Wednesday to their lowest level in six months, as fears of a global recession that would dampen demand overshadowed a report showing a decline in US crude and gasoline stocks. Brent crude futures were down 44 cents, or 0.5 percent, at $91.90 a barrel by 0815 …

American crude oil achieved the first official target within the expected bearish path at the price of 86.40, recording as low as $85.75 per barrel. Technically, the daily trend is still bearish, with the continuation of the negative pressure of the simple moving averages, in addition to the price stability …