A quick recap on our CL analysis done earlier in the week needs to be done as CL has failed to break below the support zone. The bulls stepped back in and the chart has put in a solid bottom candle formation. If we grind down to a shorter time frame, there is a false Read More…
Interest futures ended lower on Thursday as Treasury yields soared after positive US data. The rally in yields came as market participants lowered bets on Fed rate cuts. PMI data and weekly jobless claims pointed to a still robust economy, raising fears that the Fed might further delay rate cuts. US business activity (Source: S&P Read More…
Oil prices fell 1% on Wednesday as investors worried about the risk of high interest rates for longer in the US after hawkish Fed meeting minutes. At the same time, a bigger-than-expected increase in crude inventories weighed on prices. The US released the FOMC meeting minutes, which showed that policymakers were ready to hold high Read More…
According to the U.S. Energy Information Administration (EIA), crude oil prices are expected to average around $90 per barrel for the remainder of 2024, driven by OPEC+ production cuts and ongoing geopolitical risks. However, they anticipate a decline to an average of $85 per barrel in 2025 due to increasing global oil production (EIA Homepage) Read More…
Price Trends In 2024, the average price of Brent crude oil was around $82 per barrel, which is similar to the average in 2023. West Texas Intermediate (WTI) has also seen a comparable average, with current prices around $79 per barrel. Notably, prices have experienced short-term peaks and declines, with Brent crude hitting a high Read More…
Gold prices pulled back slightly on Wednesday as Fed policymakers pushed back rate cut expectations. However, prices remained near the highs hit in the previous session due to increased demand and optimism about easing US inflation. Fed policymakers have warned against the rising confidence that US inflation is back on a downtrend. Most of them Read More…
