crude oil

"It is a great New Year present for the whole oil industry," Russian Deputy Prime Minister Alexander Novak said on the second day of 13th OPEC and non-OPEC Ministerial meeting. Crude oil price climbed to 11-month highs boosted by the compromise deal between the Organization of Petroleum...

Recently, crude oil prices enjoyed 4 consecutive week rally after upbeat vaccine news. The rally also supported by the Biden’s victory in the hopes that he will soon announce a large fiscal stimulus package that could support demand for oil. Development of the Oil market (Jan 20 – March 20)...

Crude oil prices trading slightly lower on Monday ahead of OPEC two days of meetings that begin later today. The investors and traders eagerly waiting for the fresh updates whether the OPEC and other oil-exporting countries will extend large output cuts to balance global markets. OPEC+...

Lack of USD liquidity continues with Thanksgiving holiday while the commodity currencies, the Australian and New Zealand dollar surged to fresh session highs. On the other hand, GOLD and oil price trading unchanged due to shorted trading day.

Stocks and oil prices cheered the official confirmation of Joe Biden’s victory which means a more generous stimulus package to be deployed as soon as possible. The recent rally also supported by more upbeat news on the coronavirus vaccine. Meanwhile, at first Donald Trump rejected the outcome of...

Crude oil prices open the week on a bearish note. The recent sell-off furled by Libya's announcement that it is ramping up production and rising new coronavirus cases in Europe and the US. As a result, France and Germany have announced a return to lockdowns for at least a month. This week the...

Crude Oil prices slipped to a 3-week low on Monday due to global demand concerns and amid fears about a resurgence in coronavirus cases. On the other hand, the recent bearish momentum fuelled by the resumption of Libya’s oil exports after the Libyan National Army announced an end to an...

On Tuesday, crude oil prices ended at their lowest since June and Brent closed at $39.78 per barrel, while WTI futures ended at $36.76 per barrel. Oil slipped amid fears that rising COVID-19 cases and fears OPEC will begin picking up production soon after an output cut put in place to support...

Crude oil price surged to new session highs on Wednesday after US oil producers closed most of their offshore production in the Gulf of Mexico in anticipation of Hurricane Laura. Producers evacuated 310 offshore facilities and shut 1.56 million barrels per day of crude output, 84% of Gulf of...

Crude oil price trading steady on Monday ahead of OPEC meeting later this week. The Joint Ministerial Monitoring Committee (JMCC), which is co-chaired by Saudi Arabia and Russia, is set to meet on Aug. 19 to assess compliance with quotas and recommend any adjustments to the cuts if needed. In...

A busy week ahead as investors keep an eye on the updates from UK-EU meeting and European council meeting. Apart from this, there are several other important events to watch.

l During European session on Monday, the official data showed German industrial production plunged a record 17.9% in April amid factories shutdowns due to the coronavirus pandemic. The 17.9% decline reported by the Economy Ministry followed an 8.9% drop in March when Germany started shutting...

The US dollar fell to 11- week low ahead of NFP report. The dollar depreciated further on Thursday after EURO edged higher responding to the ECB decision to increase its bond-buying programme by a higher-than-expected €600 billion. The dollar index dropped from 100.60 on May 14 to today's low of...

EUR/USD trading below 1.12 ahead of the key European Central Bank (ECB) monetary policy decision. On Wednesday the pair surged to a three-month high of 1.1257. The market participants anticipating the European Central Bank is expected to boost its 750-billion-euro bond-buying programme by a...

As economies try to reopen globally social distancing to be permanent for a while, at least until a vaccine is developed. According to the recent study, social distancing can limit the chance of catching coronavirus to fewer than 3%. Keeping one metre apart reduces the risk of transmission to...

The US dollar continues to trade lower on Tuesday as the market sentiment experiences some pressure over mounting protests across US cities following George Floyd’s death. Moving ahead to the North American session the investors will likely monitor how current protests will impact the economy as...

commo Oil prices may have stabilized after plunging in response to the coronavirus and the price has surged more than 80% this month as demand returned following the easing of lockdown restrictions in some countries. Demand and supply fundamentals are getting better which is helping the oil...

The week is relatively quiet with Forex News events. On Thursday we will be monitoring data releases during London session, there is chance to see volatility on the GBP due to BOE Inflation Report, MPC Official Bank Rate Votes and Official Bank Rate. Friday there are important releases from US -...

Support for further correction to the level of 29.30 Breaking the 29 mark for the duration Descending Conversely, breakthrough will lead to the region 37-39 46-48 Canadian dollar analogy: Breakthrough area 1.4340 + _ give the approval to continue the course of the weakening of Hdolrhkndi In...

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