WTI OIL JUMPS TO $78 AS MARKETS EXPECT OPEC PRODUCTION CUTS TO EXTEND INTO Q2

avatar
· Views 92



  • WTI Oil jumps to $78, trying to break higher.
  • Oil traders are seeing bullish signals as US macroeconomic data points to a recovery and OPEC looks set to lengthen its production cuts. 
  • The US Dollar Index is back above 104.00, though it is unable to clearly break away from a pivotal level. 

Oil prices jumped on Friday, trading above $78 in the European trading session,  in what already has been a profitable week for Oil. Markets are on the lookout for confirmation that OPEC will prolong its current production cuts into the second quarter of the year. Although these production cuts are voluntary, they are a key factor in helping sustain Oil prices at the current levels. 

Meanwhile, the US Dollar Index (DXY) is trading in a very tight range despite the release of important economic data and a whole army of US Federal Reserve speakers releasing comments to the markets throughout the week. Tensions are building up in markets: While Fed officials talk about the timing for an interest-rate rate cut or the number of upcoming cuts, recent inflation data points to the possibility of a rate hike to counterweight the possible second-round effects in inflation. 



免責事項:本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。

この記事が気に入ったら、著者にチップを送って感謝の気持ちを表しましょう。
応答 0

古いコメントはありません。ソファをつかむ最初のものになりましょう。

  • tradingContest