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.

Oil Price Reversal Ahead? Chart Patterns Indicate Possible Bounce at Support

Oil prices have faced challenges recently, but buying pressure prevented a drop below $80. Technical indicators suggest potential for an upward bounce, with key resistance levels to watch. Fundamental factors like Canadian wildfires, US stockpiles, and rate cut expectations support oil prices. Most Read: GBP/USD Dips to 1.2850 Amid Growing BoE Rate Cut Speculation Oil prices faced challenges yesterday until buying pressure during the US session prevented crude oil from dropping below the psycho

26-07-2024 05:58 GMT by Zain Vawda

USD/JPY Declines Sharply as BoJ Considers Rate Hike Next Week

The Japanese Yen is gaining against its G7 counterparts due to rumors that the Bank of Japan (BoJ) will reduce bond buying and potentially raise interest rates. Governor Ueda has emphasized wage growth as a key factor, and both average wages and average cash earnings YoY have shown a steady upward trend. Japan is set to establish a national minimum wage standard of 1,054 yen per hour on average, the largest increase ever. Most Read: Oil Price Update: Brent Holds Critical Support Amid US Inv

24-07-2024 13:28 GMT by Zain Vawda