WTI jumps 3% on Iran conditions for Hormuz reopening
West Texas Intermediate rose 3.20% on Monday and traded around $78.80, with crude oil prices retaining strong daily gains, supported by uncertainty surrounding the reopening of the Strait of Hormuz and...
View ArticleWTI holds near $72 amid hopes of Iran de-escalation
The benchmark West Texas Intermediate crude oil traded around $72 on Friday, up 0.42% on the day, but remained in a consolidation phase after reaching a two-week high earlier this week. Investors are...
View ArticleUS-Iran deal: word of caution for energy markets
The announcement of an interim agreement between the US and Iran has triggered an immediate and dramatic reaction in world energy markets. Oil prices fell sharply, with Brent crude dropping below...
View ArticleMarkets bet Trump can’t afford $100/b oil
Oil is becoming the biggest constraint on Washington’s Iran strategy, as Brent crude pushes back toward $100 a barrel following fresh US strikes inside southern Iran, according to the CEO of a leading...
View ArticleMUFG: Energy shock keeps euro under pressure
Analysts at Japanese financial giant MUFG maintain a short euro-dollar stance, arguing that the European currency faces a larger negative terms-of-trade shock from higher crude oil and natural gas...
View ArticleOil surge “signals higher rates ahead”, deVere boss warns
Investors must prepare for higher interest rates due to the escalating Iran conflict, CEO of a leading independent financial advisory has warned. Oil markets convulsed following threats to shipping...
View ArticleWTI steady below $63.00 ahead of US-Iran nuclear talks
West Texas Intermediate crude oil prices struggle to capitalize on a modest Asian uptick on Monday and currently trade just below the $63.00 mark, up less than 0.40% for the day. The benchmark...
View ArticleOil producers to keep on pumping to 2050 and beyond
The world will carry on consuming oil, more than 100 million barrels per day to 2050 and beyond, with the oil producers’ cartel OPEC+ having just decided to keep on pumping and leave output levels...
View ArticleRising demand to keep crude oil prices bullish
OPEC continues to increase production, but oil prices are not really coming down massively, as geopolitics continue to outweigh oversupply concerns. Oil majors expect the market surplus to shrink over...
View ArticleWTI drops to $66 over weak US oil demand
West Texas Intermediate (WTI) halted its three-day winning streak, trading around $66.00 a barrel in the early European hours on Thursday. Prices depreciated as a build in US crude stockpiles increased...
View ArticleWTI bounces up on Mideast tensions, fails to tap $72
The pullback in crude prices witnessed on Monday found support on Tuesday as escalating tensions in the Middle East revived fears of an oil supply disruption, while Russia is pressuring OPEC+ to...
View ArticleWTI bearish on weakening global growth, oil demand
West Texas Intermediate (WTI) crude oil continues its decline for a third consecutive session, trading near $59.50 a barrel in Asia on Wednesday. The benchmark crude $59.37 per barrel early in the...
View ArticleCrude oil retreats as OPEC+ to add 138,000 bpd output
By Giovanni Staunovo, Strategist, UBS Switzerland AG Oil prices have given up all of this year’s gains, with prices now trading at the lowest level since December amid US tariff news and the...
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Dollar strives for firm footing on slow Eurozone growth
The EURUSD currency pair is seen sliding to near 1.0470 in Friday’s European session, showing signs of weakness after the release of the Hamburg Commercial Bank’s preliminary purchasing managers index...
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UCy: CCLEI upward trend continued in December
The annual growth rate of a leading indicator used to predict the future direction of economic movements in Cyprus, continued on an upward trend for the seventh consecutive month in December, as a...
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Investors eye two stocks, oil may retrace
By Naeem Aslam European and US stocks are trading mixed as investors pay close attention to recent escalation in the war between Israel and Hezbollah. The main concern is whether we will witness...
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Oil ends week in negative territory, despite tensions
By Naeem Aslam As geopolitical tensions escalate further after attacks by Israel on Iran, crude oil prices closed the week on a volatile note. Interesting to note when it comes to oil prices is that...
View ArticleOPEC’s voluntary production cuts extended to 2Q
By Giovanni Staunovo Back in November 2023, eight OPEC+ member states announced additional voluntary production cuts of 2.2mbpd for 1Q24. As expected, the eight OPEC+ member states announced on Sunday...
View ArticleUBS: Oil market remains complacent on supply risks
The weekend US strikes in the Middle East are reminders that a fluid geopolitical situation may compound an oil market already in deficit, UBS said in its latest Investment Research report. Recent data...
View Article‘Aussie’ falls as RBA leaves rates on hold
By Craig Erlam The Australian dollar softened Tuesday after the RBA opted to leave the Cash Rate at 4.1%, but warned some further tightening may be required. The decision and statement – the first...
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