Oil
The price of Crude Oil (WTI) has continued to crumple overnight as the benchmark declined around 2.03% and is now trading around the $42.53 a barrel mark. However, as much as OPEC might like to point the finger at non-cartel members undermining the current production agreement, the reality is...
Petrochina Oil
The continuous fall in oil prices has driven risk-off sentiments across all asset classes. U.S. stocks closed mostly lower on Wednesday despite the unexpected rise in home resales. The U.S. Treasury yield curve flattened further to almost a decade low ignoring the Fed policymaker’s hawkish statements. Meanwhile, commodity currencies...
Trader Stocks
The bullish target to 20,400 is on the backburner whilst we decipher whether the correction will deepen below 20k. Whilst STOXX and CAC remain above key support, the latter appears to have a bullish edge further out. The Nikkei 225 struggled to break the weekly R2 before promptly reverting to...
Crude Oil
European and US equity markets underwent another disappointing session yesterday, undermined by continued weakness in oil prices, as well as concerns about sliding inflation expectations hitting banking stocks. This continued slide for oil prices, now down 17% from the May peaks, saw US crude prices hitting their lowest levels since...
Gold
Gold lifted by Oil’s collapse as the noise around a deeper OPEC cut intensifies. Oil’s suffering continued overnight with both Brent and WTI finishing over 2 percent lower in the New York session. The story, however, isn’t the headline fall for the session, it is the price action after the...
Oil
As Asian markets are completing their trading day, the dollar index has eased from yesterday’s one-month high but is still close to that level. In the meantime, WTI and Brent crude didn’t manage to post a rebound after yesterday’s sizable losses. The dollar index, a broader gauge of the greenback’s...
Euro
The Euro has been declining fairly consistently over the past few weeks but the bears may have finally met their match in the 1.1123 support level. As a result, a reversal may finally be back on the cards and this could potentially see the EURUSD make a beeline for...
Oil
Oil’s ongoing oversupply woes reached an ear-piercing crescendo during Tuesday’s trading session as WTI Crude plunged into a bear market after growing signs of rising production across the globe. WTI Crude was already extremely sensitive and vulnerable to losses amid the bearish sentiment with reports of an unexpected supply increase...
WTI OIL
Having got off to a good start this week, equity markets managed to give back a good proportion of those gains yesterday as further sharp declines in energy prices undermined the initial positive sentiment that came out from events over the weekend in France. These falls were followed in Asia...
Crude Oil
Oil gushed lower again overnight with both Brent and WTI taking out their early May panic liquidation lows and falling around 2 percent in the session. This was despite OPEC/Non-OPEC’s compliance being announced at 106 percent and the American Petroleum Institute’s crude inventory draw coming in higher than expected at...