# Oil

#Oil

Latest Oil market news, analysis and commentary.



Gold Commodity

Dollar Torpedos Gold Whilst Oil Checks Its Inventory

Huge inventory draw saves crude’s blushes as a stronger dollar twists the knife in gold’s side. The American Petroleum Institute (API) rode to oil’s rescue overnight reporting a massive 9.2 million barrel...
Federal Reserve FOMC Stocks

European Futures Higher, FOMC Minutes May Reveal New Details, Sterling Needs Help, Crude Inventory...

Sceptical About Dollar Rally Hawkish FOMC Minutes Could Push Gold Lower UK Earning Data Could Save Sterling API Data Tumbled While Focus on Crude Inventory European markets are  keeping their attention...
Oil Commodity

Mr Kim Turns Gold and Crude Oil, off the Boil

A perceived drop in North Korea threats and some weak data from China and Europe was all the excuse that stale crude oil and gold longs needed to head for the...
US Dollar Currency

Dollar climbs as war tensions calm; euro drifts lower after poor industrial performance

During European trading hours, the dollar managed to reverse partially from losses made on Friday, after comments by two US civil officials and the South Korean president on Monday eased war tensions between the...
Euro Currency

Forex markets’ reaction muted on economic data, dollar on rise

Forex markets have had a muted reaction to the released economic data during the Asian session. The yen weakened against the greenback despite an upbeat string of figures out of Japan...
US Dollar Japanese Yen

Japanese Data Injects Life, Dollar Bearish Bets At Record High Since 2013, Sterling and...

Japan Overwhelms While China Underwhelms Global Arena Looks At Trump Temper Bearish Bets At A Record Level Since 2013 No Hope For Sterling Bounce Oil Lower After OPEC Supply Spikes Japan...
Oil Commodity

FOMC’s Song Drowned By Don and Kim

The FOMC may be this week’s data highlight, but it is the Kim and Trump show that will keep energy and precious metals on edge. Crude Oil Both Brent and WTI survived further...
Oil Commodity

EA: Global demand growth outlook raised

International Energy Agency (IEA) released a report on Friday, stating that the global demand growth forecast has been raised from 1.4 million barrels per day t0 1.5 million barrels per day...
Euro Dollar Currency

Dollar weakens in wake of US inflation, euro strengthens and oil pressured

Chinese economic data dominated today’s Asian session as dollar traders await key consumer prices figures for July due on Friday. The dollar index gave up on some of the strong gains from Friday to last...
Chinese Yuan

Chinese Data Fails Forecast, Dollar and Oil Weakness continues, Gold Edges Higher

Chinese Trade balance shows global growth improving Fed will focus on PPI and CPI data for a rate hike US NFP tail wind for the dollar stops Oil traders focus...
Oil Commodity

Oil trades lower, focus on producers’ meeting

Benchmark contracts for the delivery of crude at ICE Futures Europe were under moderate downward pressure on Monday during the early part of the session at equity markets in the continent, even...
US Employment

Jobs report boosts sentiment

Markets in Asia were upbeat on Monday, mirroring the positive sentiment in the US on Friday after the strong US employment report. The jump in yields after the report saw the...
Oil Commodity

Dollar weakens on start of quiet week as other majors up; oil pressured

Forex markets have started the week on a relatively quiet note regarding economic releases. During the Asian session, New Zealand inflation expectations and German industrial output in June were the main...
London Stock Exchange FTSE

FTSE 100 assisted by miners

European stock markets are quiet this morning, and we are seeing mixed movements across the major indices. The FTSE 100 is outperforming the eurozone benchmarks like the DAX and CAC 40, as mining companies are helping...

Oil and Gold Sleepy Pre NFP

NFP data this evening squashes volatility in Asia as traders adopt and sit and wait approach. Crude Oil Caution seemed to be the catchword in oil markets overnight. Traders were unwilling to add...
Great British Pound Currency US Dollar

Sterling gains ahead of BOE, Trump approves Russia sanctions, US-China trade at risk

Markets have been relatively quiet during the Asian session with only a couple of notable economic data releases, which haven’t caused significant moves in the forex market. Looking ahead, the key...
Oil Commodity

Oil Listing But Not Holed Below The Waterline, Yet.

OPEC and the API Crude Inventories torpedo oil overnight, but the move could be more to do with positioning than a structural change. Crude oil’s storage tank burst last night, with both...
Euro Currency

Positive eurozone data supports euro; dollar under pressure ahead of GDP figures

As Asian traders were about to close the trading week, the dollar was pressured again, with the dollar index falling a tenth-of-a-percent to 93.76. The euro gained as a string of...
Canadian Dollar

USD/CAD Canadian Dollar Lower After Dollar Rebound

The Canadian dollar depreciated on Thursday against the US dollar after US economic releases were positive and gross domestic product (GDP) forecasts were upgraded for the second quarter. The Trump administration...
Federal Reserve FOMC Stocks

US dollar slides on Fed statement

Investors continued to exude positivity as markets in Europe closed higher yesterday, boosted by more gains in commodity prices. Copper prices hitting two-year highs, while crude oil touched their highest levels in...
Oil Commodity

FOMC Deflates Dollar Inflates Oil and Gold

A dovish FOMC keeps oil’s bull run alive and boosts gold’s march higher. OIL Much was made overnight of oil’s positive price action but in fact it has left me somewhat underwhelmed. With...
Oil Commodity

Oil Tests Resistance But Looks Ready to Retreat

Oil prices soared 4.50% higher overnight as a result of a 10.23M drawdown in the US API Crude Oil Stocks – the largest draw in 10 months. Due to this, much...
US Dollar Currency

Dollar softens ahead of FOMC meeting; Saudi Arabia helps push oil prices up

During the Asian session, forex markets didn’t have much to react to in the absence of important economic releases. Hence, yesterday’s events along with the upcoming two-day US Federal Open Market...
Oil Commodity

Has OPEC thrown oil another lifeline?

The Oil markets are attempting to extend their gains during early trading on Tuesday after OPEC and Non-OPEC members displayed optimism over the current production cut deal and seemed confident that...
Oil Commodity

Oil erases losses following

Crude prices reversed losses from earlier in the session, trading slightly higher on Monday as the Organization of the Petroleum Exporting Countries (OPEC) and other non-OPEC members proposed Nigeria to cut...
Japanese Yen

Yen weakens following BoJ meeting; aussie gains on healthy job market

Forex markets experienced more volatility today as it was busier one compared to others this week. The yen weakened against the dollar following the release of the Bank of Japan monetary...
Mario Draghi

Markets calm ahead of ECB, BoJ meetings; oil pressured on US inventories

It has been a quiet overnight session ahead of what could be a stormy Thursday with the European Central Bank and the Bank of Japan holding their policy meetings. Most majors traded in a narrow range,...
Gold Commodity

GOP Boosts Gold as Oil Consolidates

The GOP’s infighting weakens the dollar, boosting gold, whilst oil consolidates its recent gains. OIL Oil flip flopped in a choppy one dollar range overnight with both Brent and WTI spot ending up almost...

Gold Shines as Oil Consolidates

Gold was the main beneficiary of the U.S. Dollars woes overnight as oil consolidates its recent gains. Oil Crude paused for breath overnight with both Brent and WTI trading in a one dollar range....
Oil Commodity

Sentiment Send Oil and Gold Higher in Asia

Bullish sentiment remained high in Asia as a weaker U.S. Dollar gives helpful tailwinds to both oil and gold. Oil Crude oil opened in Asia in a positive mood, with both Brent and...

LATEST

GBP recovers to 1.29 on surprise UK wages data

Great British Pound Currency
The UK wages growth surprised on the upside, as the British households saw their average earnings improved...

UK unemployment falls again to lowest since 1975, wage growth still lacklustre

Employee at Steel Plant China
Britain's unemployment labour market bucked tepid economic growth in the second quarter as the unemployment rate unexpectedly...

US Dollar holds gains

Federal Reserve
The dollar held on to big gains on Wednesday ahead of today's Federal Reserve's minutes. The Fed releases...

Dollar Torpedos Gold Whilst Oil Checks Its Inventory

Gold Commodity
Huge inventory draw saves crude’s blushes as a stronger dollar twists the knife in gold’s side. The American...

EUR/CHF: Limited Downside Risks From Current Levels; Staying Long

SWISS FRANC
Credit Agricole CIB FX Strategy Research argues that EUR/CHF faces limited downside risks from current levels on the ground that...
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