Front-month WTI futures saw an abrupt surge in recent trade from around the $92.00 per barrel level to as high as the $94.60s to print fresh highs since September 2014. The spike occurred as traders upped the amount of geopolitical risk premia embedded in oil prices in response to US …
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Oil prices fell on Friday as rising inflation in the United States stoked fears of a major interest rate hike as investors awaited the outcome of nuclear talks between the United States and Iran that could increase the global supply of crude. Brent crude futures were down 58 cents, or …
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Major pairs were quite volatile on Thursday following the release of US inflation figures. The US Consumer Price Index soared in January, higher than expected. The headline spurred a short-lived dollar’s rally, although the greenback quickly changed course and moved from daily highs to fresh weekly lows against most of …
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US President Joe Biden confirmed the recent notice from the US Statement Department to all citizens to leave Ukraine right now during an interview with NBC News.The US State Depart cited “increased threats of Russian military action” as the key risk to put Ukraine on the “Level 4: Do Not …
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An aggressive OPEC report on global demand and a drop across the board in US petroleum inventories pushed oil prices higher on Thursday. Total US commercial crude oil inventories are now just over 410 million barrels. Oil prices reversed earlier losses to rise early on Thursday, following a bullish OPEC …
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The Organization of the Petroleum Exporting Countries (OPEC) announced in its latest monthly report that it left the 2022 world oil demand growth forecast unchanged at 4.15 million barrels per day (bpd), as reported by Reuters. Crude oil prices showed no immediate reaction to this publication and the barrel of …
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Oil prices continued to rise on Thursday after a sudden drop in US crude oil inventories in the previous session, while investors awaited the outcome of US-Iran nuclear talks that could lead to a rapid increase in crude supplies in global markets. The price of Brent crude rose 34 cents, …
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WTI keeps the previous day’s bounce from short-term key supports around $89.00 during Thursday’s Asian session.Oil grinds higher towards the weekly resistance line, near $89.65 at the latest. Although a clear rebound from the 10-DMA and an upward sloping trend line from January 03, 2022, keeps buyers hopeful to overcome …
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Versus the expected 369K Increase, commercial crude oil inventories in the US dropped by 4.756 million barrels in the week ending on 5 February, a weekly report published by the US Energy Information Administration revealed on Wednesday. Market consensus pointed to an increase in crude oil stocks.Distillate stocks saw a …
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Contrary to the positive surprise provided by the last week’s US NFP and jobs data, the US inflation profile expectations depict a downbeat scenario ahead of the key US Consumer Price Index data for January. Last week’s NFP data continued to support the USD on Monday.Economic DataThe economic docket for …
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