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On March 12, Derek Halpenny, an analyst at Mitsubishi UFJ, said in a report that if the UK fails to negotiate an exemption from the USs 25% tariff on steel and aluminum imports on Wednesday, the pound may weaken. He said that if the British government obtains an exemption from the tariffs, it will strengthen the possibility that the United States will treat the UK differently from other countries. The strongest argument in favor of reaching an agreement is that the UK-US trade in goods is roughly balanced. He said: "If the UK cannot achieve an exemption even with a small economic impact, the pound may be affected relative to current expectations."U.S. Secretary of State Rubio: The United States is pleased that Ukraine can participate in the negotiations. Now it is Russias turn to respond. If Russia refuses to cease fire, it will explain many problems.French Defense Minister: I discussed the Ukraine issue with the British Defense Secretary last night.French Defense Minister: France and the United Kingdom will continue to actively engage to ensure lasting peace between Russia and Ukraine.US Secretary of State Rubio: The United States believes that the (Russia-Ukraine) ceasefire can be effectively monitored.

Look at $81.62 on NYMEX crude oil

Oct 26, 2021 11:01

On Monday (October 11), international oil prices rose, continuing the previous seven-week streak. Due to supply restrictions by major producing countries, and as economies try to recover from the new crown epidemic, demand for fuel continues to grow. NYMEX crude oil looks at US$81.62 in the market outlook

GMT+8 13:36, NYMEX crude oil futures rose 1.95% to 80.90 US dollars / barrel; ICE Brent crude oil futures rose 1.54% to 83.66 US dollars / barrel. The two cities respectively refreshed their highs since October 31, 2014 to US$81.02/barrel and their highs since October 10, 2018 to US$83.80/barrel.


As more people who have been vaccinated get rid of the lockdown, economic recovery is gaining momentum, and coal and natural gas prices have soared, making oil more attractive as a fuel for power generation, driving the oil market higher. The two major crude oil markets have been rising for seven consecutive weeks.

But as US inventories have increased again after the recent decline, oil prices may begin to falter. Caroline Bain, chief commodity analyst at Capital Investment Macros, said in a report: "We believe that crude oil prices will not rise sharply this quarter, and we still expect a gradual decline next year."

On the daily chart, U.S. oil is in an upward ((3)) wave that started from $61.74 and broke through the 23.6% target of $78.37. The upper resistance looks at the $80 mark and the ((3)) wave 38.2% target of 88.66. Dollar.

On the hourly chart, oil prices are in five upward waves starting from 74.97 US dollars, and the upper resistance looks to the 138.2% target of 81.62 US dollars. Wave 5 is a sub-wave of the upward (1) wave that started at $61.74. (1) Waves are the sub-waves of ((3)) waves.

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