Oil prices eased in volatile trade on Monday as some bearish economic news from the United States and Germany offset bullish support from a weaker U.S. dollar and forecasts for increased heating demand for energy from a winter storm. After rising for five days in a row, Brent futures fell 21 cents, or 0.3%, to settle at $76.30 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 40 cents, or 0.5%, to settle at $73.56. Despite those declines, both crude benchmarks remained in technically overbought territory for a third day in a row. On Friday, Brent settled at its highest level...
The EUR/USD pair weakened near 1.0380 on Tuesday (1/7) during Asian trading hours. The greenback moved higher after President-elect Donald Trump said that his tariff policies will not be reduced. Traders are gearing up for the preliminary Eurozone Harmonized Consumer Price Index (HICP) and the US ISM Services Purchasing Managers' Index (PMI) for December, due on Tuesday. Trump denied a Washington Post report that his aides were considering narrowing his tariff plans to only apply to a limited number of essential imports. Traders will be closely monitoring developments surrounding Trump's...
Oil prices edged lower in Asian trade on Tuesday, extending losses from the previous session as weak U.S. and European economic data raised some questions about the demand outlook. But prices remained near three-month highs, boosted by bets that cold weather in the U.S. and Europe will help boost near-term demand. Hopes for more stimulus measures in top oil importer China also continued to factor into prices, with focus shifting to upcoming inflation data from the country this week. Brent crude for March delivery fell 0.3% to $76.08 a barrel, while West Texas Intermediate crude fell 0.4%...