EUR/USD 1.15584
-0.046%
Gold 4080.09
1.902%
Oil 59.811
0.226%
USD/JPY 154.216
0.515%
GBP/USD 1.31570
-0.043%
GBP/JPY 202.906
0.471%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
CEO of Sberbank, Russia: Profits are expected to grow by about 6% in 2025.Iran says some of its nuclear facilities are under inspection by the International Atomic Energy Agency.On November 10th, Huayang Intelligent announced that Ningbo Meishan Bonded Port Area Fosun Weiying Equity Investment Fund Partnership (Limited Partnership), a shareholder holding more than 5% of the companys shares, holds 7,313,600 shares (representing 12.81% of the companys total share capital). Fosun Weiying plans to reduce its holdings by no more than 2,854,200 shares within three months after 15 trading days from the date of this announcement (December 2, 2025 to March 1, 2026), through centralized bidding and block trading, for a total reduction of no more than 5% of the companys shares.November 10th - Japan released its Economic Growth Committees recommendations for a comprehensive economic package. The expert panel stated that Japan will strive to achieve higher incomes without raising taxes. Japan is considering including semiconductors, key minerals, and defense in the economic plan.On November 10th, Russian Presidential Press Secretary Dmitry Peskov stated at a briefing that Russia hopes to end the conflict in Ukraine as soon as possible, but the key lies in achieving the initially set goals. He stated that Russia remains open to resolving the Ukrainian issue through political and diplomatic means, which is the preferred option. Peskov pointed out that the current changes in the frontline situation clearly indicate that the Ukrainian governments situation will inevitably deteriorate. Despite widespread fear in Ukrainian society, the number of Ukrainians supporting peace under Russian conditions will increase. Peskov stated that Kazakhstan is a special partner of Russia, and Moscow is actively preparing for Kazakh President Kassym-Jomart Tokayevs state visit to Russia.

WTI recovers to $87.50 on Iran, OPEC+ buzz

Daniel Rogers

Sep 02, 2022 14:38

 截屏2022-09-01 下午4.56.12_1024x576.png

 

WTI crude oil prices consolidate weekly losses near a two-week low in Friday's Asian session. The energy benchmark hails the expected output drop from major suppliers while ignoring US-Iran oil deal discussions. The market's consolidation before the US jobs data seems to favor the latest commodity bounce.

 

Reuters reports that OPEC+ will meet on September 5 amid a backdrop of dropping prices and demand, even as top producer Saudi Arabia claims supply remains tight. OPEC+ this week reduced its demand estimate, now projecting demand to lag supply by 400,000 bpd in 2022 and 300,000 bpd in 2023.

 

On a second page, Reuters sources Iranian official news as claiming Iran has given a 'constructive' response to US suggestions aimed at restoring the 2015 nuclear deal.

 

Covid-led lockdown in China's Chengdu joins gloomy Manufacturing PMIs and hawkish Fedbets to squeeze WTI crude oil prices.

 

US 10-year Treasury rates decrease one point from late June's highs to 3.25 percent, while two-year bond coupons fall from a 15-year high. The CME's FedWatch Tool predicts a 74% chance of a rate hike in September, up from 69%.

 

Looking ahead, oil traders will watch the US Nonfarm Payrolls (NFP) and Unemployment Rate for August for fresh impulse.

 

Although $85.30-50 horizontal support limits the black gold's immediate fall, recovery is elusive until reaching the 50-DMA and 200-DMA, around $95.15-30.

Suggestion