Tag Archives: Oil
oil
Oil prices hover at high with summer demand and rate cut hopes
Key points: Oil prices held steady near two-month highs, buoyed by expectations of rising fuel demand and potential economic growth from US interest rate cuts. Brent crude oil (Symbol: UKOUSD) increased to $86.80 per barrel. Similarly, the WTI crude oil (Symbol: USOUSD) reached $83.51 per barrel. The images above show oil prices rallying, as observedContinue Reading
Oil prices fall with US inventory increase
WTI and Brent crude oil prices fall due to unexpected rise in US inventories and market caution ahead of the US PCE data. Geopolitical tensions add to supply concerns.
Oil prices edge down as demand growth prospects remain uncertain
Key points: Oil prices edged down in Asian trade on Tuesday, after rallying in the previous session. Brent crude oil (Symbol: UKOUSD) dropped to $84.13 per barrel, while West Texas Intermediate (WTI) crude oil (Symbol: USOUSD) decreased to $80.19 a barrel. The images above show the bullish momentum in oil prices, as observed on the VTContinue Reading
Oil prices rise on falling US inventories and higher global demand forecasts
Key Points: Oil prices climbed as reports indicated a decline in US crude oil inventories and an optimistic outlook on global demand. Brent crude oil (Symbol: UKOUSD) increased to $82.32 per barrel, while West Texas Intermediate (WTI) crude oil (Symbol: USOUSD) rose to $78.42 per barrel. The images above showed the bullish momentum in oil prices,Continue Reading
Oil prices dip due to uncertainty on OPEC+ cuts and strengthening of USD
Key points: Oil prices nudged lower for the second consecutive session on Monday, pressured by a stronger dollar as expectations for US interest rate cuts were delayed following robust nonfarm payrolls data released on Friday. Brent crude oil futures (Symbol: UKOUSD) slipped to $79.58 a barrel, while US WTI crude oil futures (Symbol: USOUSD) fell 4Continue Reading
Oil prices rebound following OPEC+ reassurance, but set for weekly decline
Key points: This article is a follow-up to: Oil prices hovering at lows with rising supply Supply chain disruption in the WTI oil sector Oil prices ticked higher on Friday, supported by reassurance from key OPEC+ members Saudi Arabia and Russia about their readiness to adjust output agreements. However, despite these gains, markets are headingContinue Reading
Loonie sees mixed performance as central bank cuts interest rates for homeowners
Key points: Homeowners across Canada are breathing a sigh of relief following the decision from its central bank to cut interest rates for the first time in four years. Such a move by the Bank of Canada (BoC) provides much-needed relief for households holding variable-rate mortgages. While a single 25-basis point cut may not significantlyContinue Reading
Oil prices hovering at lows with rising supply and uncertain demand
Key points: WTI crude oil (Symbol: USOUSD) hovered near $73 per barrel on Wednesday, maintaining their position at four-month lows after five consecutive sessions of decline. Brent crude oil (Symbol: UKOUSD) also held around $76 per barrel, near three-month lows. Both benchmarks are weighed down by signs of rising global supplies and an uncertain demand outlook. Continue Reading
Oil, treasury yields decline as US sees falling job openings
Key points: The U.S. economy’s recently robust performance may be starting to wane, as indicated by the latest Job Openings and Labor Turnover Survey (JOLTS). The data revealed that job openings fell to the lowest level in more than three years in April, indicating a softening in the labor market. This unexpected drop in jobContinue Reading
Oil prices steady ahead of OPEC+ meeting
Key points: Oil prices saw minimal movement in early Asian trading on Monday, as market participants are focused on the upcoming OPEC+ meeting scheduled for June 2. This meeting, initially set for June 1, was delayed by a day and will now be held online. Producers are expected to deliberate on whether to maintain voluntaryContinue Reading
