Tag: oilprice

daily market analysis
July 02, 2021 BY Steffy Bogdanova

Daily market commentary: The US dollar remains on the front foot

OIL Oil is trading almost flat during the early part of Friday’s session, having reached a fresh multi-year high during the previous session, following a last-minute disagreement amongst OPEC members that delayed a decision on increasing output levels by an estimated 400,000 barrels per day. Officials from member countries will reconvene today and attempt to…

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daily market analysis
July 01, 2021 BY Steffy Bogdanova

Daily market commentary: Oil prices continued to rise

OIL Oil prices continued to rise during early Thursday trading, following the publication of US inventories data, which showed that stocks continue to decline. Meanwhile, investors now await the outcome of the OPEC+ meeting occurring today, with the consensus pointing at an increase in output in the order of half million barrels per day, which,…

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daily market analysis
June 17, 2021 BY Steffy Bogdanova

Daily market commentary: The Dollar Index has risen more than 1.2%

OIL Oil prices dropped back from multi-year highs late on Wednesday, after the Federal Reserve indicated its intention to raise interest rates faster than previously thought, triggering a dollar rally. With the Fed becoming hawkish, the dollar is likely to continue to rally in the days ahead, representing a headwind for oil and other commodities.…

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daily market analysis
June 16, 2021 BY Steffy Bogdanova

Daily market commentary: The pound gained ground following the publication of UK inflation data

OIL Oil prices reached new multi-year highs during early Wednesday trading, with Brent touching $74.71, the highest watermark since October 2018. The current prices illustrate a plainly bullish stance amongst investors who clearly are betting on the continuation of this upwards trend, due to rising demand as economies emerge from lockdowns, with many now expecting…

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daily market analysis
May 24, 2021 BY Steffy Bogdanova

Daily market commentary: European markets opened modestly higher

EUROPEAN SHARES  European markets opened modestly higher at the beginning of the week, providing a mixed sectoral performance picture as gains in tech and banking shares offset declines from miners. Investors returned cautiously to their trading desk with uncertainty reigning following China’s crackdown on commodities and crypto markets, which sparked a significant increase in volatility.…

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