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Crude oil plunges as recession fears intensify

WTI has plunged about $10 from the highs to fall below $100 and was still going lower at the time of writing

European Open: Gold remains rangebound, $112 pivotal for WTI

Gold remains stuck in a choppy range which makes it more appealing for range-trading strategies, whilst WTI has risen to a 5-day high and probes a key resistance zone.

OPEC preview: Will OPEC+ increase output in August?

When OPEC+ meets later this week, it is unlikely to increase output more than the expected 648,000 bpd.

June 27, 2022 08:39 PM

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The Fed’s mention of a recession weighs on oil prices

With global growth downwardly revised and the Fed being more open of a recession, lower oil prices and its impact on inflation expectations is a key theme to watch.

European Open: Sentiment falters ahead of the open

US futures and Asian indices partially handed back some of yesterday’s gains and oil touched a 1-month low as yesterday’s optimism shows early signs of petering out.

European Open: Asia lower, Oversold markets cautiously retrace

Of course, we’ll have to find out if yesterday’s sell off really is ‘oversold’, but the overnight rise for index futures and commodity FX appear to be corrective in nature.

June 14, 2022 06:40 AM

European Open: ECB and the euro in focus, WTI bulls eye $124

The conclusion of today’s ECB meeting is the only game in town today, which has seen the yen and euro rise against the dollar just hours ahead of it.

June 9, 2022 05:59 AM

European Open: WTI finds demand around $117, futures mixed

The yen continued to weaken overnight and WTI is back at around $120 after a solid rebound from $117 yesterday.

WTI crude shows the potential to extend its recent rally

Whilst WTI crude has pulled back following Monday’s gap higher, the potential for a bullish continuation pattern following a bullish breakout has been noted.

June 7, 2022 03:50 AM

Crude oil: Could we see 14-year highs in WTI soon?

From a fundamental perspective, the rise in oil prices comes down to simply supply and demand.

OPEC + hikes output more than expected

The rumors are still making the rounds that OPEC+ may suspend Russia and that Saudi Arabia may increase production as price continues to soar.

June 2, 2022 04:59 PM

Saudi Arabia throw Western allies a bone with potential output increase

Crude oil has fallen over 2.7% today on reports that Saudi Arabia may be prepared to raise oil production should Russian output substantially fall.

Oil slips on the last day of (another good) month ahead of OPEC

Whilst oil prices rallied for six consecutive months for the first time in 11-years, its last day of the month was a bit of a let-down for the bull camp.

Fed Manufacturing Indexes not supporting a strong recovery

Will this data continue to fall? It may depend on whether crude oil remains at elevated levels.

May 26, 2022 08:26 PM

European Open: WTI rebounds above $100, UK GDP up next

Energy markets were supported by the rise in geopolitical tensions between Russia and Europe, which helped WTI print a firm close above $100.

Can the easing of supply chain pressures give CPI a break?

With key US inflation data scheduled for tomorrow, we take a look behind the curtain to see if it’s realistic to expect inflation to finally tail off.

Asian Open: Fed reality check prompts market reversals, USD lower

Whilst the Fed raised interest rates by their most aggressive pace in 22-years of 50-bps, they may have poured cold water on the prospects of a 75-bps hike further out.

May 4, 2022 11:44 PM

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Crude Oil jumps as Germany says ok to oil embargo

As the EU prepares for an embargo of Russian oil, price has gone bid.

April 28, 2022 07:19 PM

Asian Open: Whether inflation has peaked is a hot debate

A quick look through the data suggests inflation may not have peaked. But even if it has, we suspect it will be a long and gradual decline.

Asian Open: Dollar hits near 2-year high post Fed, WTI breaks lower

The FOMC minutes reiterated the Fed’s extremely hawkish stance which saw the US dollar dominate the session.

WTI crude oil (USOIL) coiling: Breakout imminent?

The symmetrical triangle is approaching its apex, raising the probability of a high-volatility breakout in the coming days...

April 5, 2022 04:09 PM

European Open: WTI drifts back up to $100, futures point higher

Light news made for a quiet session overnight, although it hasn’t prevented WTI from drifting its way back towards $100 ahead of today’s open.

European Open: Asian equities lower on China PMI contraction

Both the manufacturing and service sectors contracted in March according to PMI data from the National Bureau of Statistics.