# Oil

#Oil

Latest Oil market news, analysis and commentary.



Oil Commodity

Oil rises on expected fall in U.S. inventories, geopolitical tensions

Brent oil prices rose to a three-week high on Wednesday as weekly U.S. crude inventories are expected to have fallen steeply and geopolitical tensions around oil-rich Iraq and Iran raised risk...
Oil Commodity

Trump To Show Iran The Good Oil?

President Trump’s update on its Iran relations today has the oil market nervous, overshadowing this evening’s U.S. CPI. Brent and WTI limped quietly into the week’s end overnight with the price action...
Oil Commodity

Global oil market seen balanced in 2018, even with rising output – IEA

Global supply and demand for crude oil will be largely balanced next year, as growth in consumption helps erode a three-year-old overhang of unused fuel and should mostly offset a steep...
Oil Commodity

OPEC Comments Uncap Oil’s Wellhead

OPEC comments unleash pent-up demand in oil overnight with WTI the main beneficiary. Crude oil prices shot higher overnight with WTI gaining a spectacular 2.80% and Brent a more modest but still respectable...
Oil Commodity

Oil Seeps as Gold Rallies

Crude oil traded sideways overnight while gold’s rally continued, with volatility dampened by a U.S. and Japan holiday. Oil Crude prices finished broadly unchanged overnight with a U.S. holiday meaning New York trading...
Oil Commodity

Saudi Arabia and Russia Puncture Oil’s Recovery

Saudi Arabia and Russian backpedalling popped oil’s balloon on Friday as Hurricane Nate props up prices in Asia. The rot set in as both Russia and Saudi Arabia seem to backtrack on their...
Great British Pound Currency

Dollar holds weak amid fresh threats from North Korean peninsula; pound strengthens ahead of...

On Monday, the dollar could not recover from Friday’s losses as North Korean tensions came back to the spotlight and as liquidity was limited during the session with South Korea, Japan, and China...
Great British Pound Currency

Market Wrap Turkish lira hit hard, pound gains

The pound (+0.42%) gained against the US dollar in London despite the decent political pressure. According to latest news, PM Theresa May could reshuffle her cabinet and exclude Foreign Secretary Boris...
Oil Commodity

Oil steady as talk of new OPEC deal balances U.S. exports

Oil prices steadied on Thursday on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on...
Oil Commodity

Oil’s Drop Is No Barrel Of Fun

Oil’s extended speculative long positioning feels the heat as crude runs out of momentum. The unwind in long crude positioning continued overnight, with WTI falling 1.90 % and Brent 1.00% respectively. Separate...
Oil Commodity

Oil and Gold Unmoved in Asia

Oil and Gold both continued to fade into the week’s end with a China holiday seeing a quiet start for Asia. WTI finished unchanged at 51.35 on Friday as the selling pressure...

Month-End Noise Rocks Oil and Gold

Month-end flows in the USD contributed to a very choppy session on oil markets but helps gold up off the canvas. Oil Traders were left somewhat breathless overnight after the dust settled on a...
Oil Commodity

Oil falls as U.S. data shows mixed picture

Oil prices fell on Thursday, with U.S. crude giving up some of the previous session’s gains that were driven by a surprise fall in inventories, while Brent moved further away from...
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Oil and Gold Give And Take

It was give and take overnight with oil shrugging of a stronger dollar while gold wilted as U.S. bond yields rose. OIL Oil’s appeared to be correcting nicely overnight after the previous day’s...
Oil Commodity

Wellhead Uncapping Spurs Oil Higher

Brent and WTI explode higher as global tensions uncap Brent’s long-term resistance. The wellhead was uncapped, and oil gushed higher overnight with Brent rising nearly four percent and WTI three percent. Sabre rattling...
Euro Currency

Euro extends decline after German elections; oil jumps to fresh multi-month highs

The euro continued to be dogged by concerns about the outcome of the German elections, extending its losses in European trading, while a similarly disappointing election outcome in New Zealand caused...
Euro Currency

EUR declines on German vote, GBP gains

The German election resulted in a disappointing win for Chancellor Angela Merkel’s grand coalition; her victory was spoiled by the rise of the far-right AfD (13%), which made its way to...
Oil Commodity

Oil dips on rising U.S. crude inventories, production

Oil markets dipped on Thursday, weighed down by rising crude inventories and production in the United States as well as a stronger dollar, which potentially hampers fuel consumption in countries that...
Federal Reserve

Dollar shines as Fed meets expectations; yen fails to find support on BOJ decision

The dollar advanced against a basket of major currencies on late Wednesday, rising to a one-week high after the Fed’s rate-setting committee decided to set October as the starting date of...
US Dollar Currency

Dollar eases ahead of FOMC decision; oil up after Iraq says to cut oil...

While geopolitical tensions escalated after the US President used stronger language against North Korea at his first speech in front of global leaders at the UN on Tuesday, the dollar showed relatively little reaction...
Oil Commodity

Oil rises after Iraq signals possible OPEC cut extension

Oil prices rose on Wednesday after Iraq’s oil minister said OPEC and other crude producers were considering extending or even deepening a supply cut to curb a global glut, while a...
Canadian Dollar

USD/CAD Canadian Dollar Higher Ahead of Fed Meeting

The Canadian dollar appreciated on Tuesday after losing traction at the beginning of the week as Bank of Canada (BoC) Deputy Governor Lane said the strength of the loonie would be...
Oil Commodity

U.S. oil prices hit $50 on rising refinery demand, falling rig count

U.S. crude oil prices rose above $50 per barrel on Monday and were near last week’s multi-month highs as the number of U.S. rigs drilling for new production fell and refineries...
Japanese Yen

Safe-havens pull back as US seeks peace with N.Korea; dollar steady ahead of FOMC

On Monday, safe-haven currencies were trading lower as UN leaders were preparing to kick off a meeting on Tuesday to discuss possible solutions on North Korea’s nuclear programs, with the US seeking a peaceful resolution....
Oil Commodity

Brent Crude’s Moment of Truth Looms

Exciting times for oil as we head towards the end of the week, with WTI rallying over 1.0% and Brent 0.5% as North Korea’s missile test iced the cake of a...
Bank of England

Dollar index steady above 92 key-level; sterling flat ahead of BOE decision

On Thursday, the dollar index was moving sideways above the 92 key-level in Asia, as investors ignored another aggressive warning from North Korea and instead were cautious whether US inflation data...
Great British Pound Currency

Pound’s post-data plunge could remain short-lived

Cable rebounded lower from a year-high (1.3379) after the British wages growth stagnated at 2.1% year-on-year in July, versus 2.3% expected by analysts. The weak data revived worries that British households’ earnings...
Euro Currency

Euro finds support on news of greater EU integration; dollar ticks down

Currencies were trading quietly during the Asian session ahead of a busy calendar on Wednesday, with markets reacting little to the latest North Korean threats. The dollar weakened slightly with investors expecting...
Oil Commodity

Oil prices steady as traders assess U.S. hurricane impact

Oil prices were steady on Tuesday, as traders weighed up the dampening effect on demand of Hurricane Irma versus refinery restarts in the wake of Hurricane Harvey that should lead to...
Oil Commodity

Oil trades mixed

Oil prices traded mixed on Monday, reversing some of the losses from the previous session after Saudi Energy Minister Khalid al-Falih hinted that the current output cut agreement might be extended once...

LATEST

NZD/USD: Flows Point To Downside Risk S/T On Strong Real Money Selling

New Zealand Dollar Currency NZD
Bank of America Merrill Lynch FX Strategy Research notes that its latest proprietary flows show officials selling the...

USD Stretches Towards Resistance: Yen, Aussie to Offer Opportunity

US Dollar Currency Yen
Talking Points: The U.S. Dollar continues to claw back towards a key resistance zone that runs from...

USD/JPY – Yen Under Pressure, Markets Braced for Soft Japanese Trade Surplus

US Dollar Japanese Yen
The Japanese yen has posted gains in the Wednesday session. Currently, USD/JPY is trading at 112.86, up...

Fed Speeches and Earnings in Focus

Janet Yellen - Federal Reserve
Earnings Season in Focus as Stocks Target New Highs US futures are pointing to another higher open on...

Oil rises on expected fall in U.S. inventories, geopolitical tensions

Oil Commodity
Brent oil prices rose to a three-week high on Wednesday as weekly U.S. crude inventories are expected...
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