WTI crude oil futures fell to the $66.5 per barrel mark on Monday, near the six-month low of $66.3 from two sessions prior amid the outlook of weaker demand and ample supply. US President Donald Trump and Treasury Secretary Scott Bessent signaled that the US could have a period of economic hardship in the medium term due the their unleashing of trade wars with Canada, China, and Mexico, in addition to pledges of aggressive cuts in public spending. In China, fresh data showed that both consumer and producer prices fell more than expected in February, raising concerns that consumption for goods is not being impacted by stronger credit. This magnified the impact of the agreement by OPEC+ to proceed with oil output hikes as early as April following members' difficulty in meeting their output cut pledges. Supply was also aided by the Trump's friendly rhetoric with Moscow, raising expectations that sanctions on Russian oil may be lifted.
Source: Trading Economi
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one ...
Oil prices rose on Wednesday (February 11th), supported by a combination of geopolitical risk premiums from US-Iran tensions and more solid Asian demand signals particularly from India which helped ea...
Oil remained in the green zone on Tuesday (February 10th), as the market refused to abandon the Middle East risk premium. As of 13:07 GMT (20:07 WIB), Brent rose +0.4% to $69.32/barrel, while WTI rose...
Oil prices fell about 1% on Monday as concerns about conflict in the Middle East eased slightly. The market calmed after the US and Iran agreed to resume talks on Tehran's nuclear program, reducing fe...
Oil prices moved slightly higher in a volatile session on Friday, as investors assessed the direction of nuclear negotiations between the United States and Iran. Price movements appeared sensitive to ...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...