WTI/JPY

The Organization of the Petroleum Exporting Countries (OPEC) today marks the sixth anniversary of the adoption of the landmark ‘Algiers Accord’ on 28 September 2016 in Algiers, Algeria. Six years ago, the OPEC Conference held its 170th (Extraordinary) Meeting in the Algerian capital to discuss oil market developments and deliberate ways to address the ...

WTI crude oil prices rallied 5 percent on Wednesday in the best daily move in over 4 months. Its climb was not an isolated event, however. Multiple assets rallied across financial markets over the past 24 hours in a synchronized systemic move. Looking at the chart below, we can see that oil gained alongside gold and S&P 500 futures. This is as the US ...