Tag Archives: Oil

The American Petroleum Institute said that crude oil inventories rose by 3.8 million barrels in the week ending July 1. In its weekly report, the American Institute stated that gasoline stocks fell by 1.8 million barrels last week, and distillate stocks fell by 635,000 barrels. The release of the inventories …

The USD/CAD pair remains pressured around 1.3030, extending the previous day’s pullback from the highest levels since late 2020, as traders pare USD gains amid a quiet Asian session on Thursday. It is worth noting that the bounce in the prices of Canada’s main export item, WTI crude oil also …

Global recessionary fears have impacted most sectors across financial markets. The US dollar obviously benefited from the risk-aversion and soared entrenching the dollar’s safe haven status. The risk of a US recession is above 70%, according to most analysts. The inversion of Treasury yield curve also does add to those …

Interviewed by Dubai TV, Mohammed Hashad, Head of Research and Development at Noor Capital and member of the American Association of Technical Analysts, shed light on the latest developments of the financial markets: First: Stock marketThe equity market has tried to recover as markets observed during last week in the …

Financial Markets’ Weekly Recap, June 27 – July 1 Last week, financial markets sent several warnings that global economic growth slowdown is looming and recession has become most probable, however there is no general agreement among market participants on ‘when’ entering into recession could take place.  Gold As trading kicks …

Oil prices retreated by about 2% on Wednesday amid rising US gasoline inventories and worries about slower economic growth around the world in addition to ongoing concerns about tight crude supplies. Brent futures fell $1.72, or 1.5%, to settle at $116.26 a barrel. The August contract will expire on Thursday …

Oil prices rose for a third day in a row on Tuesday as major producers such as Saudi Arabia and the United Arab Emirates seem unlikely to be able to increase production significantly, while political turmoil in Libya and Ecuador heightened supply concerns. The price of US West Texas Intermediate …

Gold advanced at the beginning of the day, but finishes it in the red at around $1,824.00 per ounce. WTI, records a solid bounce after testing the 100-EMA on the downside near $105.88 a barrel near the daily low and got bolstered late, as OPEC+ cuts 2022 market surplus from …

With the G7 Summit underway, a US official said on Monday that the G7 is close to setting a global price cap for Russian oil. According to Reuters. “To issue coordinated steps tomorrow to raise pressure on Russia.”“Targeting services for transporting Russian oil is a ‘promising avenue’.”“US will impose higher …

Oil prices extended gains on Monday as investors awaited any moves against Russian oil and gas exports that might be taken during the Group of Seven leaders meeting in Germany. There is a looming prospect of tighter market supplies as Western governments seek ways to reduce Russia’s ability to finance …