Oil Steadies as Iran Protests Spread

Oil steadied after a second annual increase, supported by concern that protests in Iran could lead to a supply disruption in OPEC’s third-biggest member.Futures were little changed in New York after a 3.3 percent gain last week. The death toll rose during the unrest in Iran as security forces clashed with demonstrators rallying in a rare show of displeasure with the nation’s leaders. The country pumps about 3.8 million barrels a day.Oil in New York climbed 12 percent last year as the Organization of Petroleum Exporting Countries and its allies trimmed supply to reduce a global glut. U.S. crude output is also slipping from a record-high, with weekly production falling through Dec. 22 for the first time since mid-October. Any interruption to Iranian supply would be a significant shock to the market.

Source: Oil Steadies Above $60 as Protests Spread in OPEC Producer Iran – Bloomberg

U.S Dollar starts 2018 at new lows

Iran Protests Lift Oil To Start The Year

Gold Continues To Defy Sceptics

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.