Energy news

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USD/CAD eyes key resistance at 1.3700, pares losses on OPEC driven oil price surge

Loonie pares losses alongside oil price surge Oil rises on OPEC+ action, but may remain a choppy trade on global growth concerns and rising Non-OPEC production $100 oil risk will remain on table throughout the winter USD/CAD Daily Chart After having its worst slide in a month, the Canadian dollar continues to weaken as investors digest the surprise Canadian contraction in the second quarter. BOC rate hike bets are fading away but an outperformance with European currencies could limit the dow

05-09-2023 11:48 GMT by Edward Moya

Brent Crude - Oil steady today but momentum remains with the rally

Brent rally cools after another strong week Tight market continues to support price No sign of technical divergence near $90 in Brent Oil prices are a little flat today after rallying another 5% last week. Brent hit a new high for 2023 in the process and, despite paring earlier gains today, there still appears to be plenty of momentum in the rally. That there is still plenty of momentum so close to $90 a barrel may suggest we could see a strong push to break above which would represent a big sh

04-09-2023 12:46 GMT by Craig Erlam