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…
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…
Oil Giant Aramco Targets More Crude Shipments to India in a $25B Deal in Reliance
Oil giant Saudi Arabia is in advanced talks to acquire about 20% stake in Reliance Industries Ltd for $20 billion to $25 billion. The deal in Reliance will be all-stock,…
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%…
IEA Projects Oil Hitting Pre-Pandemic Levels in 2022 Amid Uneven Recoveries
(IEA) International Energy Agency expects global demand for oil to hit pre-pandemic levels towards the end of next year. IEA expects sustained Covid devastation and low inoculations in several parts…
OPEC+ Agreement to Ease Production Cuts Sees Oil Climb to 2-Year High
Brent crude futures jumped by about 2.7% on Tuesday to trade at $71.17 a barrel after OPEC+ agreed on gradual easing of output cuts, CNBC reports. OPEC+ agreed to boost…
Brent Surpasses the $70 Mark ahead of OPEC+’s Crucial Output Meeting
Brent oil rose past the $70 a barrel level after OPEC+ said it expects tightening of the global market, reports Bloomberg. OPEC+ says surplus oil accumulated during the pandemic has…