Tag Archives: WTI

The US dollar remained near three-week lows as Federal Reserve Chair Jerome Powell adopted a cautious stance during his testimony to Congress, highlighting the need for “greater confidence” in declining inflation before considering a rate cut. Powell acknowledged the cooling labor market, but the upcoming Consumer Price Index (CPI) report …

The U.S. dollar remained near a three-week low on Wednesday, despite slight gains, as Federal Reserve Chair Jerome Powell’s cautious tone in his testimony to Congress tempered risk sentiment. Meanwhile, the New Zealand dollar weakened on the prospect of a rate cut. Powell’s Testimony and Market Reaction In his first …

Oil prices remained relatively stable on Tuesday as the impact of Hurricane Beryl on a major U.S. oil-producing hub in Texas proved less severe than initially feared. The storm, which weakened into a tropical storm after making landfall, caused minimal disruption to major refineries along the U.S. Gulf Coast. Brent …

Oil prices edged lower on Monday, following a four-week upward trend, due to the prospect of a ceasefire in Gaza easing geopolitical tensions. Investors are also monitoring Tropical Storm Beryl, which threatens to disrupt U.S. energy supplies. Brent crude futures dipped 0.4% to $86.18 a barrel, while U.S. West Texas …

Oil prices dipped slightly on Thursday, retreating from their recent multi-month highs as investors took profits amid lingering demand concerns, despite a significant decline in U.S. inventories the previous week. Brent Crude and WTI Futures Decline Brent crude futures experienced a 0.49% decrease to $86.91 per barrel, while U.S. West …

The US dollar fell to multiday lows in the wake of another data-driven sell-off, which coincided with a general decline in US rates and the July 4 Independence Day holiday. The UK general elections are also anticipated to be actively watched by markets in the lead-up to the French second …

Crude Oil prices briefly reached new highs on Tuesday, with West Texas Intermediate crude testing above $83.50 per barrel before easing back to $82.50. The American Petroleum Institute (API) reported a steeper-than-expected drawdown in US Crude Oil supplies, with API barrel counts showing a weekly decline of -9.163 million, far …

In this report, we take a look back at the latest five trading days with a focus on the market news, economic data and headlines that had the most impact on key financial assets; including oil and gold prices as well as the key correlated assets. It is an opportunity …

Even while US yields rose in reaction to an improvement in overall risk appetite trends and a modicum of relief from political unrest in Europe, the US dollar lost some of its recent gains. Amidst investor speculation of two Fed interest rate cuts in 2024, the USD Index (DXY) posted …

Oil prices experienced a slight decline in early Thursday trading, reacting to the U.S. Federal Reserve’s decision to postpone interest rate cuts and growing concerns over ample U.S. crude and fuel stocks. Brent crude futures dipped 0.5% to $82.23 per barrel, while U.S. West Texas Intermediate (WTI) crude futures fell …