Energy complex recovers from the post-OPEC+ leg down – TDS
Source Fxstreet
The latest Department of Energy (DOE) inventory statistics weighed on the crude Oil markets, but with that said, the energy complex has recovered from the post-OPEC sell-off, TD Securities analysts note.
Crude Oil market loses optimism
“The latest DOE inventory statistics, which showed larger inventory builds than expected, have sapped some of the recent optimism out of the crude oil market.”
“The energy complex has recovered nicely from the OPEC driven jolt lower. CTAs are now more likely buyers with uptrends reforming, and spreads have also shown major signs of recovery. Indeed, Commodity Trading Advisor (CTAs) may be back on the bid in WTI and Brent crude, if prices can reach north of $78.46/bbl and $82.77/bbl respectively.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
US-Iran tensions persist; $4,400 becomes the gold ( XAUUSD) bulls' make-or-break level.During the European session on March 26, as of press time, spot gold retreated 1.5% to $4,436.42 per
Gold rallies on hopes for US-Iran talks and falling US Treasury yieldsGold price (XAU/USD) gains nearly 2% on Wednesday as Oil futures prices tumbled amid growing speculation that the US and Iran would begin talks to end the conflict that started nearly four weeks ago. At the time of writing, XAU/USD trades at $4,556.
Gold price (XAU/USD) gains nearly 2% on Wednesday as Oil futures prices tumbled amid growing speculation that the US and Iran would begin talks to end the conflict that started nearly four weeks ago. At the time of writing, XAU/USD trades at $4,556.
Impacted by signs of easing geopolitical risks in the Middle East, international gold prices (XAUUSD) rebounded sharply after previously falling to the $4,100 level, at one point climbing
As U.S. President Trump once again signaled a de-escalation of tensions in the Middle East, global markets swiftly entered "TACO trade" mode: risk assets rallied, safe-haven assets retrea
WTI rises back above mid-$90.00s amid Middle East tensions and supply risksWest Texas Intermediate (WTI) Crude Oil prices gain traction in Asian trading Tuesday, building on Monday’s rebound from the $84.00 mark, a near two-week low. The commodity climbs above the mid-$90.00s, supported by supply fears.
West Texas Intermediate (WTI) Crude Oil prices gain traction in Asian trading Tuesday, building on Monday’s rebound from the $84.00 mark, a near two-week low. The commodity climbs above the mid-$90.00s, supported by supply fears.
Related Instrument
