OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the UK inflation figures, oil and how the markets are trading.
19-01-2024 15:54 GMT
by Craig Erlam
Energy news
Energy commodities are essential fuels that power modern society. Explore key energy sources like crude oil, natural gas, coal, and emerging renewable energies. Learn about their global impact on the economy and environment.
Ongoing hostilities in the Middle East region and the Red Sea shipping route have put a potential “floor” in oil prices due to the increasing risk of supply disruptions.
The demand side has remained weak as China’s top policymakers have signalled a less forceful approach in enacting stimulus measures after PBoC left its 1-year MLF rate unchanged at 2.50%.
Sideways for now between US$76.05/78.40 and US$69.20 for WTI crude oil.
This is a follow-up analysis of our prior report, “WTI Oil Technical:
16-01-2024 01:23 GMT
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12-01-2024 13:04 GMT
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12-01-2024 08:12 GMT
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09-01-2024 01:03 GMT
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