Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Commodities

WTI depreciates amid thin trade on US Presidents’ Day, inches lower to near $77.80

Source Fxstreet

WTI price corrected after registering gains for two successive sessions.
Crude oil prices depreciate amid expectations that the Fed will maintain its current interest rate.
Israel has signaled the potential for additional military operations in the southern city of Gaza.

The West Texas Intermediate (WTI) oil price retraces its recent gains, possibly due to a technical correction, amid subdued trading activity due to the Presidents’ Day holiday in the United States. WTI price dips lower to around $77.80 per barrel during Asian trading hours on Monday. Additionally, market participants are expected to closely monitor demand conditions in China after returning from the week-long holiday.

Crude oil prices encounter challenges amid expectations that the Federal Reserve (Fed) will maintain its current interest rate, following the previous week of complex data. Higher consumer prices coupled with declining retail sales have reinforced the market sentiment that the Fed will abstain from rate cuts in both March and May. The CME FedWatch Tool indicates roughly a 52% probability of a 25 basis points (bps) rate cut in June.

Geopolitical tensions persist in the Middle East following an Israeli military raid on Gaza's second-largest hospital, causing it to cease functioning according to the United Nations (UN) public health agency. Israel has indicated the possibility of further military action in Gaza's southern city. Additionally, Iran-led Houthi fighters have attacked an India-bound oil vessel.

The International Energy Agency (IEA) revised its global oil demand growth forecast for 2024 downwards in its latest monthly oil market report. The slowdown in global oil demand growth is partly attributed to developments in China.

The report highlights a tightening of oil market balances in January, primarily due to supply disruptions in the United States and Canada. Despite ongoing production cuts by OPEC+ nations, the IEA anticipates a modest increase in inventories in the first quarter of the year.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Today’s Market Recap: U.S. Stocks Rebound as Nasdaq Gains 1.11%, Memory Chip Stocks Rally, SanDisk Jumps 5.5%U.S. stocks rebounded on Monday, October 19, following a sharp sell-off in AI infrastructure stocks last week, lifting the Nasdaq Composite and S&P 500.At the clo

Author TradingKey

Yesterday 01: 25

U.S. stocks rebounded on Monday, October 19, following a sharp sell-off in AI infrastructure stocks last week, lifting the Nasdaq Composite and S&P 500.At the clo

Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 20, 2026 Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 20, 2026. Read on for the details.

Author Mitrade

Yesterday 03: 17

Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 20, 2026. Read on for the details.

Dollar presses 102 as the 10-year yield sits at 5.14% — and October hike odds are only 17%The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.

Author Irene Q.

Yesterday 05: 50

The dollar index closed at 101.99 (+0.20%) on Monday after briefly topping 102.07, while the 10-year Treasury yield rose to 5.14% and the 2-year hit 4.774% — yet futures price only about a 17% chance of a hike at the October 27-28 FOMC, versus roughly 90% for December. The driver is a global bond selloff, not a Fed repricing: France's 10-year OAT jumped to 4.84% ~ 4.94% and the OAT-Bund spread widened to 140 ~ 146bp. Here are the levels, the cross-asset read-through and what to watch.

Netflix earnings land tonight: the $70 line that decides whether the AI rebound has legs Netflix reports Q3 after the US close on October 20 with the stock at $69.85 (-0.96%), just below the $70 round number and far from its 52-week high of $124.86. Consensus looks for revenue near $12.87bn (+12%), EPS around $0.82 and a 33.2% operating margin, while options imply an 8.4% one-day move. With the Nasdaq up 1.11% and the SOX up 1.61% after an eight-day slide, the result is the first real test of the AI-led rebound. Here are the numbers, the $65 / $70 / $75 levels and the three checks that matter.

Author Irene Q.

23 hours ago

Netflix reports Q3 after the US close on October 20 with the stock at $69.85 (-0.96%), just below the $70 round number and far from its 52-week high of $124.86. Consensus looks for revenue near $12.87bn (+12%), EPS around $0.82 and a 33.2% operating margin, while options imply an 8.4% one-day move. With the Nasdaq up 1.11% and the SOX up 1.61% after an eight-day slide, the result is the first real test of the AI-led rebound. Here are the numbers, the $65 / $70 / $75 levels and the three checks that matter.

Tesla Q3 Earnings Preview: Can Auto Margins Stabilize? Wall Street’s Highest Price Target at $550 Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th

Author TradingKey

19 hours ago

Tesla (TSLA) will report its third-quarter 2026 financial results after the U.S. stock market close on October 21, Eastern Time, and host an earnings conference call at 17:30 that day. Th

Related Instrument