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Crude Oil Price Forecast Ahead of OPEC Ministerial Meeting
Crude Oil Price Forecast Ahead of OPEC Ministerial Meeting
Rising COVID-19 cases and the OPEC joint ministerial meeting will impact pries in ensuing sessions.
Two weeks ago, OPEC rose its forecast of global oil demand; citing it will increase by 6.6%
Crude oil price has been range-bound for the fifth consecutive session. The rectangular pattern is the market’s reaction to the ongoing optimism of global economic recovery and pessimism from rising COVID-19 cases. On Monday, WTI futures were down by 1.06% at $61.45. At the same time, Brent futures fell by 0.58% to $65.04.
crude oil price
Today s Market View - Power Metal Resources and Alba Mineral Resources.
Gold prices steady near eight-week high as bond yields trend lower
Gold prices fell slightly this morning, although are still on track for a third straight weekly gain on reports of a recovery in the physical gold market.
SP Angel . Morning View . Friday 23 04 21
US equities falter on Biden’s ambitious tax plan
Gold prices steady near eight-week high as bond yields trend lower
Gold prices fell slightly this morning, although are still on track for a third straight weekly gain on reports of a recovery in the physical gold market.
Crude Oil Prices Suppressed by Rising Stockpiles and Demand Concerns
of clients are net short. Long
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of clients are net short. Long
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of clients are net short. Long
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of clients are net short. Long
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CRUDE OIL PRICE OUTLOOK:
Both API and EIA reported unexpected build in crude inventories for the week ending April 16th
Viral resurgence in India, Japan and other parts of the world weighed on the energy demand outlook
The OPEC+ group is expected to maintain current production level unchanged for the next 3 months
Crude oil prices extended lower during Thursday’s APAC trading session after the Energy Information Administration (EIA) reported an unexpected rise in inventories. Stockpiles increased by 0.6 million barrels for the week ending April 16th, compared to a
US vaccination pace holds above 3 million shots per day for two weeks straight (SPY +0.6%). More wealthy investors are going to cash, but millionaire bears are still in the minority
Here is the current market situation from CNN Money
North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively.
What Is Moving the Markets
Here are the headlines moving the markets.
OPEC+ Unlikely To Drastically Change Oil Pact Next Week The OPEC+ group is unlikely to make any material changes next week to the plans to ease the production cuts over the next three months, Russias Deputy Prime Minister Alexander Novak told reporters in Moscow on Wednesday. OPEC+, which decided on April 1 to gradually return over 1 million barrels per day (bpd) on the market between May and July, has the next meetings of the Joint Ministerial Monitoring Committee (JMMC) and the ministers