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WTI Crude – Remains Range Bound After EIA Release

WTI crude has been range bound for more than a week now in a sign that prices have finally stabilised. The lower end of the range can be found around $47.85 – $48 while the upper end of the range can be found around $50.70. Over the last few trading sessions, it appeared to find […]

Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts

Talking Points: Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts Euro: Is There More Easing from a Well-Priced ECB Stimulus Program? Australian Dollar Refuses to Break 0.79 Despite RBA Hold, Data, China Improvement Dollar Holds its Range as Traders Look to SPX and NFPs as Loaded Catalysts Event risk […]

As Demand Grows, Saudis Boost Oil Price to Asia Most in 3 Years

Saudi Arabia, the world’s largest crude exporter, increased the pricing terms for Arab Light sold to Asia by the most in three years as demand improved. State-owned Saudi Arabian Oil Co. said Tuesday it will sell cargoes of Arab Light in April at 90 cents a barrel below Asia’s regional benchmark. That narrows the discount […]

West TX Oil Steady near $49.50 Ahead of U.S. Stockpile Reports

Crude oil prices gained marginally in Asia onb Tuesday ahead of U.S. industry data on supplies that will set a tone. The American Petroleum Institute will release its estimate of U.S. crude, distillate and gasoline stockpiles last week, with more closely watched data from the U.S. Department of Energy due on Wednesday. On the New […]

Brent Oil Rises Above $61

Brent crude oil prices were poised on Friday for their biggest monthly gain since 2009, lifting the outlook for the battered commodity. U.S. crude oil was set to end February with its first monthly rise in eight months, with signs of a pick-up in Chinese demand and supply outages in the North Sea lifting sentiment […]

West TX Oil Down Near $48 on Rising U.S. Inventories

Ample global supply and increasing U.S. commercial inventories weighed on U.S. crude prices on Thursday after expectations for better demand going forward lifted prices a day earlier, traders and analysts said. U.S. crude settled 5.5 percent lower, or $2.82, at $48.17 a barrel, following a more than 3 percent gain in the previous session. Brent […]

West TX Oil Steady Around $50

U.S. crude held steady just below $51 a barrel in early Asian trade on Thursday after rising back above $50 the previous session, while heating oil futures also held steady above $2.10 a gallon. U.S. crude for April delivery was at $50.88 a barrel at 0000 GMT. Heating oil futures were trading at $2.11 a […]

Dollar Finds No Traction on Yellen’s Support for Hawkish Shift

Talking Points: Dollar Finds No Traction on Yellen’s Support for Hawkish Shift Euro Tuned into Greece Reform Review, Fear Fading Fast Australian Dollar Jerked Higher By Chinese Manufacturing Report Dollar Finds No Traction on Yellen’s Support for Hawkish Shift Fed Chairwoman Janet Yellen delivered her testimony before the Senate Banking Committee Tuesday and the content […]

West TX Oil Drops Below $49 on Libyan Oilfields

U.S. crude futures settled lower on Tuesday as expectations that this week’s reports on U.S. crude inventories would show another build countered supportive news of Libyan oilfields being shut by a power cut, traders said. U.S. crude settled down 17 cents, at $49.28 a barrel, after earlier reaching $50.33. Brent futures for April were down […]

West TX Oil Drops Below $49

West Texas Intermediate crude closed lower Monday after it spiked on reports that OPEC could hold an emergency meeting to deal with the oil price slide. The oil minister of OPEC member Nigeria said the group had discussed the prospect of holding a meeting, the Financial Times reported. U.S. WTI crude April futures settled down […]

West TX Oil Drops Below $50 as Libya Resumes Oil Exports

U.S. crude futures dropped on Monday as key producer Libya resumed oil exports from the eastern port of Zueitina after an almost year-long halt, adding to a global glut that has weighed on prices since June. U.S. crude for April delivery was down 52 cents at $50.29 a barrel by 2338 GMT. The March contract, […]

Stock Inventories Build sees Oil Prices Fall

Oil prices fell for a second day on Thursday, after the U.S. government reported another record high in crude inventories, but prices bounced sharply off session lows on relief the builds were less than an industry group had estimated. Prices also retraced losses as investors covered more short positions in U.S. crude futures a day […]

Energy Prices Driving Russian Policy Decisions

At central banks from Canada to New Zealand, prices of a wide basket of goods help determine the direction of interest rates. For Russia, increasingly, only one price matters: oil’s.Energy exports, already the lifeblood of the nation’s economy, may now be dictating monetary policy. The head of Russia’s central bank, Elvira Nabiullina says she checks […]

Euro Pressure Builds as Another Greek Deadline Comes Into View

Talking Points: Dollar Consolidation Mirrors Yield Forecast Euro Pressure Builds as Another Greek Deadline Comes Into View British Pound Steady Despite Record Low Inflation Reading Dollar Consolidation Mirrors Yield Forecast Though the Dollar’s larger trend is still bullish – both fundamentally and technically – the speculative ranks have clearly paused in driving the currency higher. […]

Brent Oil Steady Near $62

Oil closed up after a weak start on Tuesday, with Brent crude rising to a 2015 high of $63 a barrel as short-covering returned to a market depressed earlier by worries about euro zone stability. Threats to Middle East crude production and the falling U.S. oil rig count seemed to spur market bulls despite global […]

Pound Looks to Core CPI for Rates Cues, Greece Woes Continue to Fester

Talking Points: British Pound to Overlook Headline UK CPI, Take Cues from Core Figures Greece Woes Remain in Focus as EU Finance Ministers Convene in Brussels See Economic Releases Directly on Your Charts with the DailyFX News App January’s UK CPI figures are in focus in European trading hours. The headline year-on-year inflation rate is […]

West TX Oil Near $53 but Correction Still Expected

Oil markets opened stronger on Tuesday, continuing a rally that has seen Brent crude futures soar 8 percent since mid-January, yet analysts are increasingly saying that price rises have been overblown and are due a downward correction. Benchmark Brent crude futures LCOc1 were trading at $61.65 per barrel at 0130 GMT, up 25 cents since […]

Oil Rises Above $60 After Supply Cut Hints

Oil prices have risen above $60 a barrel for the first time this year amid signs that industry spending cuts might curb supply. Brent crude collapsed 60% from a high of $115 a barrel last summer to $45.19 in January, the lowest in almost six years, as a result of oversupply. Despite the rise on […]

West TX Oil Rallies Back Above $51 on Weak Dollar

Oil prices rallied sharply on Thursday after two days of losses as news of deeper industry spending cuts and a sinking U.S. dollar revived buying. U.S. crude closed above $51 a barrel, shaking off a morning dip tied to data showing a potentially record rise in stockpiles at the Cushing, Oklahoma, delivery hub. Its discount […]

West TX Oil Below $49.50 Pressured by an Industry Report

Oil settled below $50 a barrel on Wednesday, pressured by an industry report saying U.S. crude stocks rose from a record high. U.S. crude settled down 2.4 percent, at $48.84 a barrel, having reached a high of $51.14 earlier in the session. Brent crude futures were last down about $3 to $54.80 a barrel. U.S. […]

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