Crude Oil falling flat, and is returning less than 0.50% profit on this Thursday after headlines that Israel has already broken the ceasefire deal between in the Gaza region, Bloomberg reports. Meanwhile, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have confirmed they will postpone its upcoming Output Policy Meeting decision from Sunday to December 5. The conglomerate of Oil producers and exporters is again facing an existential crisis, with a slowdown in global demand with more non-OPEC supply to be released to markets taking place.
The US Dollar Index (DXY), which measures the performance of the US Dollar (USD) against a basket of currencies, is bouncing off a technical support level. With US markets closed on Thursday and Friday for Thanksgiving and Black Friday, the bounce of the DXY comes from Europe, where France is facing issues. The French Prime Minister Michel Barnier warned that France could become unstable if the French Parliament does not pass the much-needed budget plan, which could cause issues for France in financial markets, Bloomberg reported.
At the time of writing, Crude Oil (WTI) trades at $68.76 and Brent Crude at $72.54
Source : Fxstreet
Oil prices posted a slight increase on Friday (October 17th), but were close to a weekly loss of nearly 3% after the International Energy Agency (IEA) forecast a widening oversupply, and U.S. Presiden...
Oil is teetering on a third week of declines, weighed down by signs the market is reaching the surplus analysts have been waiting for. West Texas Intermediate is trading near $57 a barrel, expected to...
Oil headed for a third weekly decline as investors focused on supply and the fallout of renewed US-China trade tensions. West Texas Intermediate traded above $57 a barrel and is on track for a 2...
Oil prices plunged more than 1% on Thursday (October 16) after U.S. President Donald Trump said he and Russian President Vladimir Putin agreed to meet soon in Hungary to discuss ending the war in Ukra...
Oil prices held steady near a five-month low amid mixed signals regarding US President Donald Trump's push to halt India's purchases of Russian crude. West Texas Intermediate was little changed and t...
US stocks rose on Friday (October 17th) as investors reacted positively to President Trump's remarks alleviating concerns about further trade escalation with China, while regional bank stocks rebounded after Thursday's sharp declines. The S&P...
Oil prices posted a slight increase on Friday (October 17th), but were close to a weekly loss of nearly 3% after the International Energy Agency (IEA) forecast a widening oversupply, and U.S. President Donald Trump and Russian President Vladimir...
Gold prices (XAU/USD) fell 2% after hitting a record high of $4,379 on Friday (October 17th), falling below $4,250, triggered by comments by US President Donald Trump that triple-digit tariffs against China were unsustainable. At the time of...
Federal Reserve Governor Christopher Waller said on Thursday he's on board with another interest rate cut at the U.S. central bank's policy meeting...
Asian stock markets opened higher on Thursday morning (October 16th), following a positive close on Wall Street despite volatile trading. Stocks in...
US stocks closed higher on Wednesday, despite ongoing US-China trade tensions and the ongoing government shutdown. The S&P 500 rose 0.4%,...
Australia's unemployment rate jumped to 4.5% in September, its highest level since 2021. This figure was worse than expected and indicates that the...