Tag Archives: Oil

WTI corrects to near 93.00, upside remains favored on higher demand forecasts

Oil prices are likely to rebound firmly as IEA has stepped up demand forecasts. Substitution of natural gas to oil ahead of Winters is strengthening the black gold. Trimmed odds for Fed’s hawkish guidance are also supporting oil prices. West Texas Intermediate (WTI), futures on NYMEX, has witnessed a minor pullback to near $93.00 after printing… Read More »

WTI eases towards $93.00 on OPEC/EIA demand forecasts, USD rebound

WTI retreats from one-week high, probes two-day uptrend. OPEC, EIA anticipate world energy demand to ease in 2022, and increase next year. Mixed sentiment, light calendar could restrict short-term moves. US Michigan Consumer Sentiment Index eyed for clear directions. WTI crude oil prices remain sidelined at around $93.30-35 during Friday’s Asian session, pausing a two-day… Read More »

Asian Stock Market: Softer US Inflation infuses adrenaline rush, oil soars

Asian equities have soared while Nikkei225 has pathways and has eased 0.65%. Signs of exhaustion in the inflation rate have cheered the risk-perceived assets. Oil prices have surpassed $90.00 despite a buildup of oil inventories last week. Markets in the Asian domain have jumped sharply as investors’ risk appetite has improved dramatically after a soft… Read More »

USD/CAD pares US inflation-led losses below 1.2800 despite firmer oil prices

USD/CAD bounces off two-month low as US dollar licks post-inflation wounds. Headlines surrounding China, Fedspeak favors DXY’s corrective pullback. WTI crude oil grinds higher ahead of OPEC, IEA demand forecasts. US PPI, risk catalysts could entertain traders amid a light calendar. USD/CAD picks up bids to refresh intraday high near 1.2785 as traders lick US… Read More »

WTI fades US inflation-led rally below $91.00, focus on OPEC, IEA demand forecasts

WTI crude oil struggles to keep the US inflation-linked bullish bias. Resumption of Russian oil pipeline flows after six-day halt challenges US CPI-led advances. EIA inventory build, Fedspeak and challenges to risk profile also exert downside pressure on the oil prices. Monthly demand forecasts from OPEC, IEA will be important for immediate direction. WTI crude… Read More »