WTI bears look for a downside continuation for the days ahead – by fx_ross Oil WTI Commodities
e price has been consolidating at the top of a channel and the prior day's short squeeze. Risk markets were soft amid light activity as month-end approaches.Intermediate was bid on the hopes China is easing its strict zero-Covid policies while OPEC+ decided to meet virtually for its Dec.4 meeting to set production quotas. The good news came for markets when China's government announced that it will boost Covid-19 vaccination while stepping back from its quarantine policies.
Analysts at ANZ Bank said that ''Germany warned it can’t rule out temporary supply bottlenecks when a ban on imports on Russian crude starts next month. OPEC also appears to be reducing output in line with its agreement to cut production.'', the focus is on Federal Reserve Chairman Jerome Powell’s address on the economy and the US labour market in Friday's Nonfarm Payrolls event.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Texas Rangers podcast examines history of TexasA new Texas Monthly podcast examines the history of the Rangers, the storied Texas police force whose image has been burnished in countless Hollywood renderings.
Read more »
WTI Price Analysis: Bears poke $76.00 with eyes on further downsideWTI crude oil price stays depressed as it flirts with $76.00 during early Monday. In doing so, the black gold drops for the second consecutive day whi
Read more »
WTI renews yearly low as Coronavirus woes join fears of higher supplies, oil price capWTI renews yearly low as Coronavirus woes join fears of higher supplies, oil price cap – by anilpanchal7 Oil OPEC RussianFederation Coronavirus WTI
Read more »
WTI rebound crosses $77.00 as China-linked fears ease, EU struggles over Russian oil price capWTI rebound crosses $77.00 as China-linked fears ease, EU struggles over Russian oil price cap – by anilpanchal7 Oil WTI OPEC RussianFederation China
Read more »
WTI Crude Oil Forecast: Crude Oil Hanging On By a ThreadThe Crude Oil market had broken through a major support level, but then turned around later in the day to form a bit of a hammer.
Read more »
SF police clarify lethal robots would have bombs, not guns'While an explosive charge may be considered an intermediate force option, it could potentially cause injury or be lethal.'
Read more »