Oil prices moved steadily on Tuesday morning (November 25th). WTI held near US$58 per barrel and Brent above US$62 per barrel, supported by risk-on sentiment in global markets and hopes for further interest rate cuts by the Fed. The mood was also helped by the latest communication between US President Donald Trump and Chinese President Xi Jinping following the tariff truce.
Meanwhile, the market continues to monitor developments in the Ukraine peace talks. If an agreement is reached and sanctions against Russia are eased, Moscow's oil exports could increase to a market already vulnerable to oversupply. Currently, WTI for January delivery is around US$58.91 per barrel, and Brent for January closed up 1.3% at US$63.37 per barrel.
The price of silver at the time of this analysis was released was $62.71.
Disclaimer:
This article is analytical in nature and does not constitute a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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