Archive for Tag: Crude Oil

TOP 3 MARKET EVENTS IN UPCOMING WEEK – 06 NOVEMBER 2021

U.K. Gross Domestic Product (GDP) YoY WHEN: WHAT IT INFLUENCES: 11 th NOVEMBER 2021 GBP and its subsequent pairs WHAT’S HAPPENING: The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50...

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Oil rally resumes as OPEC+ seen keeping supply tight

Brent Oil was trading 0.48% upat $84.03. Oil rose further above $84 a barrel on Friday, within sight of a multi-year high hit this week, as expectations OPEC and its allies will keep supply tight countered rising U.S. inventories and the prospect of more Iranian exports. Algeria said on...

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Oil Mixed, Losses Capped by Solid U.S. Demand, Global Energy Crunch

Brent Oil was trading 0.65% down at  $85.27. Oil was mixed Thursday morning in Asia, giving up some earlier gains as some investors scooped up profits from a recent rally. However, solid demand in the U.S. and a switch to fuel oil from coal and gas amid a global coal...

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Oil shrugs off higher U.S. crude stocks, strong dollar

Brent Oil was trading 0.69% down at $77.56. Oil prices held steady on Thursday after rising above $80 a barrel this week, shrugging off bearish factors such as rising U.S. crude oil inventories and a strong dollar amid consensus that a supply deficit will stay for coming months. Brent...

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Commodity – Oil prices rise on expected U.S. stocks draw

Brent Oil was trading 1.36% upat $75.34. Oil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S Crudestocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves. Prices were also supported as some OPEC...

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Oil hits 6-week high as U.S. Gulf braces for another hurricane

Brent Oil was trading 0.64% up at $73.98. Oil prices hit a six-week high on Tuesday as another hurricane threatened to bring heavy rain to Texas and parts of Louisiana that were still recovering from Ida, and as the International Energy Agency forecast a big demand rebound for the...

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