Crude Surges As non-OPEC Producers Agree Oil Output Cut
Crude oil prices surged a huge $3 dollars or 5% higher at the Asian open with Brent briefly trading north of $57 and WTI above $54 a barrel before pulling back slightly.
Energy
Oil In Focus As OPEC Meeting Looms Large
After months of uncertainty and speculation you would think there will be some clarity about the crude oil situation just days ahead of Wednesday’s OPEC meeting. Well, you would be wrong. In fact, very wrong.
Dollar Eases On Profit-Taking Ahead Of An Important Week
Black Friday means financial markets will close earlier than usual today, but don’t despair as there is a lot to look forward to next week.
USDCAD Defends 1.34 As Oil Falls, Canadian Data Disappoints
It has been a relatively quiet day in the markets due in part to the lack of any major economic news. The US economic calendar in particular will be rather light this week due to Thanksgiving on Thursday.
US elections: Markets rocked by Trump’s lead
It is safe to say that markets don’t like uncertainty but this is on another level. Fears that Donald Trump was going to win the election saw risk-sensitive assets drop faster than Hillary Clinton’s hopes of becoming the next US President overnight.
Oil Demand Likely To Fall In 2017 As Prices Struggle
Crude oil, like many other commodities and markets are present, continues to remain rangebound with the bullish momentum of earlier in the month now waning.
Lacklustre Start To Week Full Of Data, Earnings And CB Meetings
At the start of a week full of US earnings, important economic data and a couple of central bank meetings, risk is somewhat off the menu. Equities, copper and, to a lesser degree, oil prices were all trading lower at the time of this writing.
Oil Higher Ahead Of OPEC Decision
Crude prices jumped in reaction to the latest weekly US crude stockpiles data but then quickly went into reverse gear, before bounce back once again.
Saudi Oil Output Offer Report Lifts Brent For Fourth Day
Ahead of next week’s talks in Algeria, Reuters reported this morning that Saudi Arabia is apparently willing to reduce its oil output for as long as Iran agrees to freeze its production at current levels.
Crude Oil Struggles To Shake Off Oversupply Concerns
Oil prices have been extremely volatile of late, without making any significant progress in either direction. The long and short of it is that the stream of mostly negative news has helped to halt the recent rally, while ahead of this month’s informal meeting of the OPEC in Algeria not many people will want to be betting boldly on an oil price plunge. Therefore consolidation is the dominant theme in