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Oil Inches Higher on Softer U.S. Dollar After Biden Drops Out -- Market Talk
Oil prices edge higher on a softer U.S. dollar as investors gauge the implications of President Joe Biden's decision to drop out of the presidential race.
UBS Sees These Trading Opportunities in Forex and Commodities
In real trade-weighted terms, the US dollar is not cheap, currently at levels similar to those seen in the mid-1980s and early 2000s, strategists noted.
Crude Oil Could Be Next – TDS
The notable declines in commodity demand expectations continue to threaten the energy complex although CTAs still hold substantial ammunition to deploy on the offer, TDS senior commodity strategist Daniel Ghali note.
Brent Oil Price Trends Upward Amid Positive Market Signals
Brent crude oil has reached $85.40, marking a continued increase over two consecutive sessions. This upward trend is primarily supported by recent US energy inventory statistics, which showed a significant decrease of 4.87 million barrels against an anticipated decline of 0.8 million barrels.
WTI Consolidates in a Narrow Band Near Weekly Top, Holds Above Mid-$81.00s
West Texas Intermediate (WTI) US crude Oil prices build on the previous day's solid rebound from the 50-day Simple Moving Average (SMA) support and climb to a fresh weekly peak during the Asian session on Thursday.
Crude Prices May Be on the Cusp of a Breakdown – TDS
Downside pressures for Crude oil continue to grow as physical demand trends continue to deteriorate. Crude prices may be on the cusp of a breakdown, TD Securities Senior Commodity Strategist Daniel Ghali suggests.