All Articles Tagged - crude oil

Oil in retreat after Saudi Arabia rules out cut; doubts remain over freeze

Posted on February 24, 2016 at 2:07 pm GMT

Crude oil prices erased their gains made after the deal to freeze output was struck as Saudi Arabia’s oil minister yesterday ruled out cutting production anytime soon. Saudi Oil Minister Ali Al-Naimi, who was speaking at a conference in Houston, Texas, said on Tuesday that a production cut is “not going to happen” because he was sceptical about other countries enforcing it even if such a decision was taken. On February 16, OPEC members Saudi Arabia, Venezuela and Qatar reached [..]

Oil rebound brings relief to markets but outlook remains uncertain

Posted on February 18, 2016 at 1:09 pm GMT

Crude oil prices extended their gains on Thursday as the deal announced between OPEC and Russia continued to provide support. On Tuesday, OPEC members Qatar, Venezuela and Saudi Arabia agreed with Russia, a non-OPEC member, to freeze output at January levels in a bid to halt the freefall in oil prices. Markets were initially disappointed with the outcome of the Saudi- and Russia-led talks in Doha as the deal did not involve any production cuts. There were also fears of [..]

Oil rout intensifies as Iran re-enters global oil market

Posted on January 18, 2016 at 11:40 am GMT

Oil prices extended their slide on Monday after the international community decided to lift sanctions on Iran over the weekend. The decision to ease sanctions against Iran comes after the International Atomic Energy Agency said in its report that Iran has fulfilled its obligations under last year’s nuclear accord that prohibits Iran from developing nuclear weapons. Analysts estimate that Iran will be able to raise production by 500,000 barrels a day immediately after the suspension of sanctions. This would add [..]

FX Daily Outlook| 23-12-15

Posted on December 23, 2015 at 9:28 am GMT

[..]

Asian Session – Dollar attempts a rebound ahead of key data later in the day

Posted on December 23, 2015 at 8:34 am GMT

The US dollar edged higher in quiet Asian trading on Wednesday as Japanese markets are closed for the Emperor’s birthday. Profit taking drove the US currency lower for a third straight day on Tuesday. There was limited reaction to mixed US economic data yesterday. The third revision to third quarter growth showed the US economy expanded at a slightly slower pace than had been estimated in the second revision. However, the data was above forecasts and shows US growth remains [..]

Dollar strength, China concerns push metals to multi-year lows as oil tests $40

Posted on November 23, 2015 at 3:54 pm GMT

The commodities rout continues to haunt metal prices such as copper, iron ore, nickel and zinc, which have all plummeted to multi-year lows in recent days. The strong dollar is one of the reasons commodity prices continue to come under pressure as the two have traditionally shared an inverse relationship (see graph). This is because the majority of commodities are priced in dollars so when the value of the dollar goes up, it will require fewer dollars to buy commodities. Another [..]

European Session – Loonie falls on oil price drop and BoC decision; dollar tests 120 yen

Posted on October 21, 2015 at 2:16 pm GMT

With the absence of any major data releases today, a drop in oil prices and anticipation ahead of tomorrow’s ECB meeting were the main currency drivers in today’s European session. Crude oil prices extended their losses for a third day after the American Petroleum Institute report showed US commercial crude stocks rising by more than expected in the week to October 16. More data on US oil inventories is released later today from the US Energy Information Administration, which is [..]

Loonie in focus after Liberals election win and upcoming Bank of Canada meeting

Posted on October 20, 2015 at 10:23 am GMT

The centre-left Liberal party, led by Justin Trudeau, won the general election in Canada on Monday, ending the Conservative’s nine-year run in power. Although the Liberals had been leading in the polls, they were not expected to win a majority. With the counting now over, the Liberals have won 184 seats, compared to the Conservative’s 99 seats. The New Democratic party has shrunk to just 44 seats, dropping to third place. The size of the win means the Liberals have [..]

Asian Session – Aussie and yen shrug off weak data to gain against dollar

Posted on October 15, 2015 at 7:20 am GMT

Weak retail sales data continued to weigh on the dollar on Thursday as investors remain doubtful whether the Fed would raise interest rates by the end of the year. However, Richmond Fed President Jeffrey Lacker appeared unconvinced by the recent disappointing data. Lacker said on Wednesday that the weak data does little to change his outlook for the US economy. The dollar fell to 118.71 yen in late Asian trading, having risen to 119.16 yen earlier in the session. The [..]

Asian Session – Yen eases on equities rebound and weak data; Markets eye Yellen speech

Posted on September 30, 2015 at 12:09 pm GMT

Asian equities bounced back on Wednesday after a positive close on Wall Street on Tuesday. Positive consumer confidence figures from the US and the Eurozone eased fears of a global slowdown. The rebound in equity prices helped the dollar firm in today’s Asian trading, while the yen eased on improved risk sentiment. Weaker-than-expected industrial production figures also weighed on the yen. Preliminary figures for August industrial production in Japan showed output dropping by 0.5% month-on-month against estimates of a 1% [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

crude oil

XM Live Chat