US major indices close lower. Indices down 4 of 5 days this week (with one big day higher) Gas prices at the US pumps rise to $4.33 Russia and Belarus create their own joint venture WTI crude oil futures settle at $109.33 Key events and releases next week highlighted by the FOM
WTI crude oil The price of WTI crude oil futures settle at $109.33. That's up $3.31 or 3.12% for the day. The high price this week reached $130.50 in the early hours of trading on Monday. The low price reached $103.63 on Wednesday. Last Friday, the price settle at $115.68. So for the we
Jonny Hart looks back on the week’s business and markets news with OANDA Senior Market Analyst Ed Moya in New York. This week they discuss how financial markets reacted to the latest inflation report, President Biden’s executive order on cryptos, and recapped what happened with energy markets. They also discuss what the week ahead has in […]
Oil Crude prices tentatively turned negative after Russian President Putin saw “certain positive shifts” in talks with Ukraine. Oil will remain a volatile trade as the headlines regarding the war in Ukraine and Iran nuclear talks will keep traders on edge. Optimism for a Russia-Ukraine ceasefire is driving crude prices lower but that might not […]
Oil goes for a wild ride Oil edged lower after a wild session as energy traders became worried that inflationary pressures will only get worse as this war continues and that will lead to crude demand destruction. After another hot inflation report, many investors on Wall Street are growing concerned that stagflation risks could derail […]
Oil powers higher All the headlines suggest oil prices will continue to go higher. Global energy supplies will continue to get tighter now that both the US and UK will ban Russian oil. The US took it one step further and also will ban Russian natural gas and other energy sources. Russia’s economy will take […]
Oil Crude prices rallied after Russian troops seized control of Europe’s largest nuclear power plant in Southeastern Ukraine. A fire at the nuclear site was extinguished and early reports were that there was no immediate indication of a rise in radiation levels. Yesterday, hopes were growing that a third round of talks could happen and […]
Oil Crude prices continue to drop as energy traders realize that War in Ukraine probably won’t lead to any disruptions of Russian crude to Europe. Despite the potential for talks between Moscow and Ukraine officials, the situation in Ukraine continues to escalate as Russian forces make a move for Ukraine’s capital. Taking over Kiev would […]
Wall Street has an inflation hangover as higher rates continue to drag tech stocks down. US stocks were trying to stabilize as yields came in. Yesterday’s inflation shocker has many bond traders believing the Fed is behind the curve and will be delivering several rate hikes. Many Fed members feel inflation will meaningfully decelerate later […]
Oil Crude prices seem to have a one-way ticket to $100 oil. This week’s rally in crude was supported by the OPEC+ decision to stick to their gradual increase strategy and as US production fell again. An artic blast is also disrupting some production in Texas and that is driving this latest price surge. Initially […]
Natural Gas The UK power regulator approved a 54% increase for prices starting on April 1st. This follows the 12% price jump households saw in October. UK energy companies can now pass along the rise in natural gas prices to consumers, which will punish 15 million that rely on floating rate pricing. It looks like in just […]
