OPEC+ Dims Oil Outlook after Projected Ramp Up in Production
(Bloomberg) The West Texas Intermediate crude fell up to 4.8% on Thursday as investors expect OPEC+ to increase oil production in January. Bets against oil rose as Russia proposed a…
Market Analysis: USDJPY Implodes as EURUSD Struggles for Direction Amid Omicron Variant Concerns
US dollar firms near 16-month highs amid safe-haven demand.USDJPY suffers the biggest sell-off in 20 months.EURUSD is under pressure amid Omicron concerns.Oil prices bounce back amid production cuts.Bitcoin and Ethereum…
Market Analysis: USDCAD Rises Above 1.2700 as USDJPY Tanks, and Oil Prices Drop on Glut Supply Concerns
US dollar firms at 16-month highs amid safe-haven demand.USDCAD snaps three-day fall rises above 1.2700.USDJPY retreats below 115.00.Oil price down by 2% amid glut supply concerns.US equities sell-off over renewed…
US Release of Strategic Crude Oil Seen as “Symbolic” With No Impact on Price
(FT) Energy Aspects’ director of research, Amrita Sen, has termed the release of 50 million barrels of crude by the US as a “a symbolic move,” with negligible impact. Sen…
Market Analysis: EURUSD and GBPUSD Under Pressure as Turkish Lira Implodes and Bitcoin Sell-off Persists
The US dollar bounces back amid interest rate talks.EURUSD bounces back under threat.GBPUSD rally stalls below 1.3500.Oil prices are steady amid the US reserves release push.US indices rally persists. The…
US Crude Inventories Fall by 2.1M Barrels
Total crude oil inventories in the US for the week that ended November 12 was 433.0 million barrels, a decline of 2.1 million barrels from the previous week. Source: EIA…
Crude Inventories Increase by 3.3M Barrels but Refinery Inputs Fall
(EIA) US crude oil inventories rose by 3.3 million barrels in the week that ended October 29 to reach 434.1 million barrels. Refinery inputs fell by 25,000 bpd, to average…
Crude Inventories Surge by 4.4M bpd as Refinery Inputs Also Jump
(EIA) US crude oil inventories rose by 4.3 million barrels in the week ending October 22 to average 430.8 million barrels. Crude oil refinery inputs surged by 58,000 bpd to…
Crude Oil Inventories Fall by 0.4M Barrels Despite Expected Increase
(EIA) US crude oil inventories hit 426.5 million barrels for the week that ended October 15, a decline of 400,000 barrels from the previous week. The inventories were expected to…
OPEC+ Misses Oil Output Targets Amid Pressure to Raise Supply
(Bloomberg) The inability of some OPEC+ members to increase oil output is forcing the cartel to settle for a larger crude supply deficit. Countries that include Nigeria, Angola, and Azerbaijan…
US Crude Oil Inventories Rise by 6.1M Barrels in the First Week of October
(EIA) The US recorded 427.0 million barrels of crude inventories in the week that ended October 8, up by 6.1 million barrels from the previous week. The inventories are now…
Market Analysis: GBPUSD Bounce Back Stalls as Oil Prices Tank Amid US Stockpile Build Up
US dollar firms near 14 months high.GBPUSD is on the defensive as bounce-back stalls.EURGBP edges lower amid euro weakness.Oil prices amid demand concerns in the US.US benchmark indices edge lower…