On Wall Street in the week ahead, investors’ major focus will be on the US Federal Reserve’s last monetary policy meeting of 2023. Investors widely expect the FOMC (Federal Open Market Committee) to hold interest rates steady at its meeting. The FOMC interest rate decision will be announced on DecemberRead More →
Oil prices declined more than 2 per cent in the previous session as investors remained cautious over the depth of supply cuts announced by the Organisation of Petroleum Exporting Countries and its allies (OPEC+). Concerns over sluggish global manufacturing activity also weighed on market sentiments. Brent crude futures for FebruaryRead More →
Oil prices rose on Wednesday, November 29, as investors turned their attention to the output policy decision by the Organisation of Petroleum Exporting Countries and its allies (OPEC+), while supply disruption caused by a storm in the Black Sea combined with lower US inventories to drive buying. Brent crude futuresRead More →
Crude oil prices surged more than 2%, driven by speculation that OPEC+ might prolong or deepen production cuts, a reduction in Kazakh oil output due to a storm, and a softer U.S. dollar, on Tuesday, according to a Reuters report. Brent crude futures recorded a $1.88 increase, which is aRead More →
Oil prices declined for a fourth day on Monday ahead of a meeting of OPEC (Organization of Petroleum Exporting Countries) and its allies, together known as OPEC+, later in the week. The member countries on November 30 will deliberate on supply curbs in 2024. The OPEC+ ministerial meeting was earlier scheduledRead More →
On Wall Street in the week ahead, investors will be eyeing key economic data that include gross domestic product (GDP) numbers and PCE reports, and OPEC+ meet. The US GDP (second estimate) data for third quarter is set to be released on November 29. The economic reports could provide cluesRead More →
The Asian markets traded mixed, while the US markets were shut for a Thanksgiving holiday. Declining oil prices and ease in US bond yields are likely to support the domestic equities and remain key positives for a broader recovery for the market. The domestic equity market ended flat on ThursdayRead More →
Oil prices declined about 2 per cent on Thursday, November 23, extending losses after the Organisation of Petroleum Exporting Countries and it allies (OPEC+) unexpectedly delayed the policy meeting on output planned for Sunday, raising questions about the future course of crude production cuts. Investors now speculate that the oilRead More →
Global oil benchmarks extended gains on Monday, November 20, as further supply cuts in OPEC+ production are expected in the coming weeks. On Monday, oil futures experienced a gain of over $1, continuing their upward trajectory amid expectations of OPEC+ intensifying supply reductions, according to a report by Reuters. ThisRead More →
Global oil benchmarks headed for their fourth weekly loss on Friday, November 17, but recouped some losses a day after sinking 5 per cent to a four month-low on growing worries about rising supply and cooling demand. Brent futures rose $1.34, or about 1.7 per cent, to $78.76 a barrel.Read More →
