Energy news

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Fragmentation within OPEC+: UEA exit signals structural shift in oil market dynamics

Oil markets are reacting to the UAE’s exit from OPEC+ and ongoing geopolitical disruptions. While short term supply remains constrained, rising spare capacity and weakening cartel discipline point to higher volatility ahead, with current price declines likely driven by profit taking rather than a trend reversal.

30-04-2026 13:09 GMT by Łukasz Zembik

Chart alert: USD/JPY breaches above 160 (21-month high), ignoring intervention risk

USD/JPY surges to a 21-month high above 160, defying intervention risks as yen weakness intensifies. Rising oil prices and a widening US–Japan rate differential continue to drive upside pressure, reinforcing the pair’s bullish momentum. Technical signals point to further gains within an ascending channel, with key support at 159.85 holding firm. Unless momentum breaks, USD/JPY may extend toward higher resistance levels in the near term.

30-04-2026 06:25 GMT by Kelvin Wong