With the US economy in the spotlight thanks to speculation that bond markets are signaling a recession in 2020, crude oil prices are losing ground once more.
Oil prices were back on offer yesterday after a confluent level of resistance came into play. But can sellers continue to push down to big-picture support?
With the US economy in the spotlight thanks to speculation that bond markets are signaling a recession in 2020, crude oil prices are losing ground once more.
The oil complex took a sharp hit Monday as US-China trade wars ramped up, and when coupled with a weak global growth outlook, further losses cannot be discounted.
Crude oil prices caught a boost this week as production constraints showed around a brewing storm in the Gulf of Mexico, set to touch down this weekend.
Crude oil jumps nearly 4% as supply shock fears out of the US Gulf of Mexico combine with resurfacing risk appetite on the back of dovish Fed remarks during Chair Powell's congressional testimony.
USDCAD losses in recent days have coincided with an uptick in crude oil prices. Will they continue?
Concern that the ongoing US-China trade dispute is hitting economic growth worldwide is damaging risk appetite, boosting safe havens such as US Treasuries at the expense of stocks and oil.
A larger than expected build in crude oil inventories is dragging down oil prices, and in turn, the Canadian Dollar.
Crude oil is pushing back towards levels seen two week ago as political uncertainty in the Middle East continues to dominate short-term price action.
Crude Oil prices have calmed after a rally of more than 50% from the lows. The bigger question is whether this is a pullback or the start of a reversal.
Crude oil continues to trade at lofty levels as worries over the political backdrop in Libya and Venezuela remain at elevated levels.
Crude oil production cuts have sent prices to a five-month high as the imbalance between supply and demand continues to unwind.