Oil Bullishness Pauses as OPEC+ Moves with Plan to Boost Output
(Bloomberg) Brent crude hit the ceiling near $72 as investors took time to digest OPEC+ plan to boost output by 400,000 barrels a day from October. The pause in oil…
Market Analysis: GBPUSD Rally, Renewed Dollar Strength, and BTC Retreat
GBPUSD under pressure after three days of gainsUSDCHF edging higher as CHF weakness on pandemic fallout concernsOil prices retreat after three days of gains as demand concerns escalateBitcoin and Ethereum…
U.S. Crude Oil Inputs Drops by 191K bpd as Inventory Remains Below a 5-year Average
(EIA) The U.S. crude oil refinery inputs decreased by 191,000 bpd to 16 million bpd in the week ended August 13 from the previous week’s average. The crude oil imports…
Multi-Asset Analysis: BTCUSD and ETHUSD under Pressure as Oil Sell-off Persists
Bitcoin and Ethereum retreat from four-month highsGBPUSD under pressure tanking to one-month lowsOil prices post longest losing streak since 2020US equities retreat from record highs of FOMC pressure Bitcoin and…
Crude Inventories Makes a U-Turn to Fall by 0.4M Barrels but Misses Estimates
(EIA) US crude oil inventories fell by 0.4 million barrels for the week that ended August 6, less than the expected drop of 1.2 million barrels. The decrease in the…
Oil Uncertainty Remains Despite Brent Averaging $75 a Barrel in July- EIA
(EIA) US Energy Information Administration sees heightened levels of uncertainty on demand for global liquid fuels following ongoing recoveries from Covid-19. EIA says Brent crude oil averaged a price of…
Oil Tanks 4% on Demand Concerns over Delta Covid Variant Outbreak
(WSJ) Oil futures fell as much as 4% on Monday following renewed concerns of demand outlook in the global market as restrictions to tame the spread of the Delta variant…
Oil on Track to Post the Largest Weekly Loss of Up to 6% as Covid Bite
WTI crude recovered less than $0.5 on Friday to trade at about $69.40 a barrel, but the gain was not sufficient to erase as much as 6% losses sustained since…
Oil Inventories Jump by 3.63M Barrels to Fuel Weaknesses in Prices
(EIA) US commercial crude oil inventories rose by 3.63 million barrels for the week that ended July 30, a higher than expected drop of 2.94 million barrels. Distillate fuel inventories…
OPEC+ Output Deal Tanks Oil 2% but Analysts Read Higher Prices Ahead
(CNBC) Analysts are predicting higher oil prices after OPEC+ agreed to raise output by 400,000 barrels a day. The analysts’ projection came even as oil fell by more than 2%…
Crude Oil Price: Here’s What to Expect Amid High Volatility
The crude oil price has been subject to volatility since the beginning of the week.With the ongoing OPEC+ crisis, investors are keen on the unfolding of the oil supply status. The…
Crude Oil Futures Reach 3-year High topping pre-pandemic levels
Crude Oil futures topped $76 per barrel, reaching a 3-year high. OPEC meeting agreed to maintain oil production to less than 0.5 million b/d but promised to increase production to 2…