Oil Holds Near Two-Month High Amid Bullish Sentiment
05.07.2024 20:30 1 min. read Alexander Stefanov
Brent crude hovers around $87 per barrel, poised for its fourth consecutive weekly gain as global equities hit record highs and US inventories decline.
Positive market sentiment and expectations of interest rate cuts are supporting the recent rally, despite weaker US hiring and wage growth in June.
A sharp drop in US stockpiles this week indicates tightening supplies, while concerns about an active hurricane season add to market dynamics.
Oil prices have steadily climbed since June, driven by optimistic summer demand forecasts and healthy near-term consumption signaled by bullish timespreads.
Analysts, like John Evans from PVM, affirm the robustness of the current price rally, emphasizing bullish expectations for the third quarter despite softer demand signals from Asia prompting Saudi Aramco to reduce crude prices for the region.
-
1
Rising Uncertainty Fuels Gold Demand as Investors Hedge Against Dollar Weakness
18.03.2025 13:00 1 min. read -
2
U.S. Imposes New Tariffs as Trade Dispute with Canada Escalates
12.03.2025 9:00 1 min. read -
3
Cathie Wood Sees Recession Risks, Predicts Policy Shift
19.03.2025 11:00 1 min. read -
4
Federal Reserve Holds Rates Steady as Economic Uncertainty Mounts
19.03.2025 20:03 1 min. read -
5
Fed Signals Rate Cuts, but Market Uncertainty Persists
24.03.2025 10:00 2 min. read
Global Economic Pressures Mount as U.S. Trade Policies and Inflation Concerns Persist
Consumer spending in the U.S. showed weaker-than-expected growth in February, increasing only 0.1%, which was on the lower end of economists’ forecasts.
US PCE Inflation Holds Steady at 2.5% in February, Core Index Surpasses Expectations
In February, the U.S. maintained its annual inflation rate at 2.5%, as reflected in the Personal Consumption Expenditures (PCE) Price Index, according to data released by the Bureau of Economic Analysis.
Stagflation Fears Loom, Yet UBS Identifies Key Investment Areas
UBS has issued a stark warning to investors, flagging stagflation as a looming economic threat.
U.S. Recession Warning? Key Market Indicator Nears Critical Level
A key economic indicator is flashing warning signs as uncertainty looms over financial markets.
-
1
Rising Uncertainty Fuels Gold Demand as Investors Hedge Against Dollar Weakness
18.03.2025 13:00 1 min. read -
2
U.S. Imposes New Tariffs as Trade Dispute with Canada Escalates
12.03.2025 9:00 1 min. read -
3
Cathie Wood Sees Recession Risks, Predicts Policy Shift
19.03.2025 11:00 1 min. read -
4
Federal Reserve Holds Rates Steady as Economic Uncertainty Mounts
19.03.2025 20:03 1 min. read -
5
Fed Signals Rate Cuts, but Market Uncertainty Persists
24.03.2025 10:00 2 min. read
