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Oil prices remain very volatile and last week’s unexpected and substantial inventory build, reported by EIA, further added to that. The price fell sharply after the data and continued earlier today before recouping those losses to trade flat on the ...
OANDA Senior Market Analyst Craig Erlam talks about oil prices surging on Pfizer/BioNTech’s Covid-19 vaccine announcement and the prospect of delays to planned January production increases.
OANDA Senior Market Analyst Craig Erlam discusses the outlook for crude prices after they received a boost this week from lost output in Norway and the Gulf coast.
Stock markets are starting the week in the red with much of Europe heavily so, as many indices trade for the first time since Thursday as a result of the Friday bank holiday. The FTSE 100 took a hammering on Friday while many of the bourses were ...
A flat start brings an end to yet another eventful week, as traders continue to weigh up just how detrimental COVID-19 will be to the global economy. It’s been interesting to watch investors navigate their way through this crisis as it was evident ...
Can oil continue to rally? Prior to the latest eruption in the crypto space, Brent crude (oil) was looking like the volatile player in the market but these moves pale in comparison. Oil prices have sprung back to life over the last couple of weeks, ...
Commodity markets keeping us entertained We may be in pause mode when it comes to stock markets, after they hit new records last week but thankfully, commodity markets are providing plenty of interest. The oil rally has stalled a little, with Brent ...
Oil spikes on reports of tanker explosions Oil prices have spiked on Thursday following reports of tankers being attacked in the Gulf of Oman, off the coast of Iran. This comes a month after allegations of sabotage in the same region, which was ...
Oil sinks ahead of EIA inventory data Another large inventory build, reported by API on Tuesday, is piling further pressure on oil prices, as we await a more widely followed release from EIA later today. Estimates suggest we may see a slight ...
The oil price rebound may have already run into a little snag, with Brent running into some resistance around $64.50 on Monday. The rebound in recent sessions had been attributed to the US/Mexico deal on the border to avoid tariffs, improved overall ...
Inventory data weighs heavily on crude prices Crude prices have also been given some reprieve over the last few days, albeit to a lesser extent, with a large inventory build once again weighing on Wednesday. Safe to say, the 6.8 million barrel ...
Risk appetite hits oil prices Oil prices are not having much fun in the current risk environment which shouldn’t come as much of a surprise considering global growth fears and their impact on risk are intrinsically linked to future oil demand. It’s ...
Oil higher again but rally in doubt We’re seeing a second day of gains in the oil market but I’m not getting too excited just yet. The market was feeling toppy prior to Friday’s sell-off, which was further highlighted by WTI making significant ...
Oil prices continue lower after Trump comments Oil prices are trading a little higher on Monday, paring Friday’s losses which came after Donald Trump claimed to have spoken with OPEC an demanded they bring prices down. It’s worth noting that this is ...
Oil prices are on the rise again on Thursday, with the inventory data from API and then EIA over the last 48 hours merely causing a pause in the rally despite reporting large increases. It would appear traders are far more interested in oil waivers ...
Oil finding resistance after inventory data Oil is trading marginally lower so far today, with a stronger dollar potentially being a drag on WTI crude. Yesterday’s inventory report from EIA may also have taken some of edge off the rally, with the ...
WTI crude is trading half a percentage point higher on Wednesday, continuing recent gains following a brief spell of consolidation. The Chinese data may not have been the catalyst for the recent gains in oil prices – taking Brent to fresh five month ...
A second large inventory build in two weeks, reported by EIA on Wednesday, has seen the oil rally stutter just as it was getting going. A break through an important resistance zone last week looked to have been the catalyst for another pop higher in ...
Oil prices appear to have found a little bullish momentum again in the last few days, with the rallies we’ve seen in equity markets clearly a major factor. Another reported inventory build from API on Tuesday may have taken some of the gloss off the ...
US futures are a little lower ahead of the open as we head into the quieter period of the week, following Donald Trump’s State of the Union Address a day earlier. Trump’s speech on Tuesday wasn’t much of a market mover, more a reminder of the ...