Traders and investors are still looking for signs that markets are indeed getting...
A BPX Energy electrified oil well site in the Permian Basin. Focus shifts from Russia and China to economic indicators from Europe and the United States to determine whether conditions support higher oil prices.Analysts expect to shift their focus this week from Russia and China to economic indicators from Europe and the United States to determine whether conditions support a higher trajectory for the price of oil.
That offsets the 8 percent spike in crude prices for the week ending Feb. 10, a move that was triggered by Russia’s surprise announcement that it would cut 500,000 barrels per day from its production starting next month. “In Europe, flash PMI data this week will help gauge whether activity in the eurozone has been surprisingly resilient to tightening monetary policy,” he said.
That would undermine recent forecasts from the likes of the Organization of the Petroleum Exporting Countries that oil demand should accelerate through 2023. Despite Russia’s unilateral decision to trim production, Weatherburn added that there’s reason to believe crude oil supplies will be stable over the next few months.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Area Code Coming for Some Residents in Central and Western Illinois Next WeekStarting next week, a second area code will be enacted across the 309 area code region of Illinois, which includes communities in the central and western portions of the state.
Read more »
Short-Term Bitcoin Traders Are Likely Profiting, Data SuggestsData from Glassnode and Decentral Park Capital shows bitcoin's STH-SOPR indicator, which shows the degree of realized profit and loss for all coins moved on-chain that have a lifespan of less than 155 days. The indicator has bounced from 1.00. Values greater than 1 suggest coins moved are, on average, selling at a profit. “All About Bitcoin” host Christine Lee breaks down “The Chart of The Day.”
Read more »
Taliban Bans Contraception in Afghanistan as a ‘Western Conspiracy’While Kabul’s Health Ministry has not issued a formal ban, pharmacists and midwives have reported being ordered by Taliban members to stop supplying contraceptive medicines and devices.
Read more »
Bitcoin levels to watch as BTC price rejects at key $25K trendlineBitcoin traders have the BTC price resistance zones to crack next to continue the bull market.
Read more »
Meme-stock era record falls: Retail traders dumped $1.5 billion a day into U.S. equities in JanuaryRetail traders bought up U.S. stocks at the fastest pace ever recorded in January, as inflows from traders using electronic brokerages surpassed the previous...
Read more »
Western bumblebees decreasing by 57%, some point to climate change, neonicotinoidsWestern bumblebees are becoming less common in Colorado, dropping nearly 60% since 1998 due to impacts from climate change and the use of a certain pesticide
Read more »