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Oil, Canadian Dollar Analysis: USD/CAD Hits 1-Month Lows as Oil Rally Extends
Flashing back to our Economics 101 classes, we know that, all else equal, a shortage of supply relative to demand will lead to rising prices. We’re see a textbook example of that phenomenon right now in the oil market, which the IEA recently estimated was structurally undersupplied by 1.2M bpd. That imbalance may moderate as we move into October and China reins back on building inventories, but regardless, demand remains robust despite signs of a slowing economy, and supply is tight in the current environment. The above fundamental backdrop is of great interest to crude oil traders of course, but if you’re ... (full story)
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From eia.gov|Sep 18, 2023Record volumes of crude oil were imported into China during the first half of 2023 because of refinery expansions in the country and initiatives to reopen the economy after the ...
From bnnbloomberg.ca|Sep 18, 2023As crude futures leap higher, traders and analysts are increasingly talking about when — not if — prices return to $100 a barrel. Across the world, premiums for physical barrels ...
From jpost.com|Sep 18, 2023The US State Department's Bureau of Near Eastern Affairs denied reports that efforts to reach a normalization deal between Saudi Arabia and Israel had been halted on Monday. "The ...
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From channelnewsasia.com|Sep 18, 2023Arch-foes the United States and Iran each released five detainees on Monday (Sep 18) in a prisoner swap deal that also gives Tehran access to US$6 billion in long-frozen oil ...
From woodmac.com|Sep 18, 2023As the energy transition accelerates over the next decade, oil demand growth is expected to falter. In a more competitive, less profitable refining market, refiners need to high ...
From econoday.com|Sep 18, 2023Expectations are that the FOMC will leave rates unchanged after their deliberations on September 19-20. These are unlikely to be disappointed. The FOMC is unanimous in its ...
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- Posted: Sep 18, 2023 1:36pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 2,644
