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Oil prices gained alongside the broader market as risk aversion pulled back overnight. EIA inventory data is in focus after the API showed another weekly inventory draw.
Oil prices gained as markets went into a risk-on stance after positive news over the Omicron variant. Energy traders have the EIA’s weekly inventory report in focus after the technical chart improves.
Oil prices fell sharply in November as a myriad of factors weighed on prices. OPEC+ is meeting this week and the cartel is likely to take a cautious approach until the Omicron threat is further ass...
Despite Crude oil witnessing a sizeable correction since late October, the technical outlook presents a rather bullish case as the $80 mark proved too much for bears to handle.
Oil prices are falling through the Asia-Pacific trading session after a US inventory report showed a larger-than-expected build in stockpiles. Meanwhile, China is expected to open the tap on reserves.