Tag Archives: WTI

USD/CAD is currently trying to settle back above 1.2680, while the US dollar is gaining ground against a broad basket of currencies.The US Dollar Index is testing the resistance level at 97.75. If this test is successful, the US Dollar Index will move towards the next resistance at 98, which …

US crude oil benchmark, WTI, rallies by 4.67% in the day, aiming to close above the USD 100 mark for the second day of the year as Wall Street closed, with US equities printing gains. The market sentiment is positive, though it would be subject to Ukraine-Russia tussles as it …

OPEC+ has agreed to stick to its existing output plan which entails 400K barrel per day hikes to oil output quotas each month in April, Reuters reported citing sources. The meeting of OPEC+ member nation oil ministers has now ended, Reuters reported. OPEC+ did not discuss increasing output quotas at …

Palladium extended its rally for the third consecutive session on Wednesday after sanctions imposed on Russia over its invasion of Ukraine exacerbated supply concerns, while gold fell as US bond yields and the dollar rose. Palladium rose one percent, recording $2,604.61, after rising on Tuesday to its highest level since …

Reuters calculations, based on a report by the Interfax news agency, showed that Russia’s production of oil and gas condensate rose in February to 11.06 million barrels per day, while trade in crude was hampered by the sanctions imposed due to developments in Ukraine. Production increased from 11 million barrels …

Eastern Europe geopolitical tensions are stilling leading market movements. Safe-haven assets turned higher, as Russia escalated its attacks on Ukraine, while President Putin said that the invasion would continue until he reaches his goal.Usually neutral countries are joining global efforts to stop Russia. Switzerland and Finland, among others, are either …

The American WTI crude oil surged into the USD 104.00s on Tuesday, up sharply from Monday’s close in the USD 95.00 territories.The 2014 high in the USD 107.50 area has for now acted as a barrier to further upside. The historic intra-day rally has been driven by traders pricing in …

A statement by the Saudi Cabinet on Tuesday renewed the kingdom’s support for the OPEC + agreement, which provides for an increase in the supply of crude exporters from the Organization and allied producers by 400,000 barrels per day each month. And the official Saudi Press Agency quoted a statement …

Palladium jumped on Tuesday on concerns that Western sanctions against Russia over its invasion of Ukraine could damage supplies, as the conflict also sent safe-haven gold prices higher. By 1043 GMT, palladium rose 3.6 percent to $2,577.38. It had reached its highest level since July 2021 at $2,711.18 last week. …

The USD has capitalized on safe-haven flows at the beginning of the week amid escalating geopolitical tensions and sanctions. Over the weekend, Washington and EU allies along with other Western nations decided to exclude some Russian financial institutions from the global payment system, SWIFT.Economic DataThe US economic calendar featured the …