WTI bulls eye a break of highs to target Sep highs, back above critical $90bbls – by fx_ross Oil Commodities WTI
US data improves this week, money markets price out overall optimistic speculation over a Federal Reserve pivot,Intermediate crude is higher by some 1.58% having climbed from a low of $87.52 to a high of $88.41 breaking the prior day's highs like a knife through butter with a significant cut to production expected from OPEC+ that meets in Vienna.
'The analysts argue that ''the bottom could be in for crude prices,'' given Dec22/Dec23 spreads have rallied substantially since fears of an 'imminent' Iran deal pushed time-spreads to their lows in August. Today's data went some ways in supporting the greenback as it failed to buttress recent hopes the Fed might adopt a less hawkish policy stance. The September ISM services index showed significant resilience in the face of rapid Fed tightening since March. ''At 56.7, the index rose for the 28th consecutive month and is more or less in line with the 20-year long-run average .
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.
Best in Texas poll (10/3): TCU soars to No. 1; Texas A&M plummetsThere’s a new No. 1 in Texas. After a 55-24 dismantling of Oklahoma, TCU received 10 out of a possible 11 first-place votes in our weekly Best in Texas poll...
Read more »
WTI oscillates around $85.50 as investors await the OPEC meetingWest Texas Intermediate (WTI), futures on NYMEX, are juggling around $85.50 as investors are awaiting the outcome of the OPEC meeting for making infor
Read more »
Texas Woman Accused of Offering Migrant a Ride—Then Stealing Her BabyJenna Leigh Roark is facing charges including hostage taking for allegedly keeping the child captive for five months until cops inadvertently stumbled upon him.
Read more »
TideIllustrated - Nick Saban warns of 'rat poison' before matchup with Texas A&M
Read more »
State Fair of Texas aims to provide fun for visitors with sensory sensitivityThe State Fair of Texas is underway and, needless to say, there are a lot of sights, sounds and smells to navigate — ranging from the scent of fried foods...
Read more »