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Oil: Volatile on Iran conflict swings ā UOB
UOB strategists report that Oil prices initially fell sharply as the United States (US) military campaign against Iran remained paused, with WTI dropping to USD 79.26 and Brent to USD 84.10.
WTI Price Forecast: Likely revisit 50-day high above $92 on renewed US-Iran attacks
West Texas Intermediate (WTI), futures on NYMEX, trade 3.2% higher at around $81.00 during the early European trading session on Wednesday.
Indian Rupee rally hits pause as oil price recovers strongly, Fed policy awaited
The Indian Rupee (INR) trades marginally lower against the US Dollar (USD) on Wednesday after a three-day winning streak. The USD/INR pair rebounds to near 95.85, the intraday high, as oil prices have rebounded strongly due to revived geopolitical risks.
US CENTCOM launches strikes in Iraq targeting Iran-backed groups
US Central Command: carried out precision strikes in Iraq targeting Iran-backed groups planning attacks on US forces and Saudi oil facilities.
WTI rebounds from two-week low, well bid around mid-$81.00s amid Iran risks
West Texas Intermediate (WTI) ā the benchmark US Crude Oil price ā gains strong positive traction during the Asian session on Wednesday, snapping a three-day losing streak to an over two-week low touched the previous day.
United States API Weekly Crude Oil Stock above expectations (-1.5M) in July 24: Actual (3.296M)
United States API Weekly Crude Oil Stock above expectations (-1.5M) in July 24: Actual (3.296M)
WTI Price Forecast: Bears target the 200-day SMA after losing the $80 mark
West Texas Intermediate (WTI) Oil extends its decline on Tuesday after falling 9% the previous day following a pause in attacks between the United States and Iran. At the time of writing, WTI trades around $77.90, down nearly 4% on the day.
Oil: Weakens on deal hopes and fragile flows ā ING
INGās Warren Patterson and Ewa Manthey note that Brent has sold off sharply as USāIran strikes pause and President Trump signals a āgood chanceā of a deal. They stress that flows through the Strait of Hormuz and Bab el-Mandeb, as well as Black Sea exports, remain critical.
Euro holds near recent lows as Fed interest rate decision looms
EUR/USD struggles for direction on Tuesday as traders avoid taking directional positions ahead of the Federal Reserveās (Fed) interest-rate decision on Wednesday while closely monitoring US-Iran developments.
Federal Reserve: Scenarios into FOMC ā DBS
DBS Group Research economist Eugene Leow notes that investors remain cautious on upcoming FOMC decisions, with markets pricing a 34% chance of a July hike and nearly full odds for September.
Analysts warn: The market might be ahead of itself with the recent Oil sell-off
Crude Oil prices hold at one-week lows on Tuesday, after having depreciated more than 12% from last week's highs.
USD/CAD Price Forecast: Lower oil prices ensure further weakness for Canadian Dollar
The USD/CAD pair trades marginally lower to near 1.4113 during the European trading session on Tuesday. The Loonie pair edges down as the Canadian Dollar (CAD) outperforms its major currency peers.
WTI Oil flirts with the $80 level amid speculation about US-Iran peace talks
Oil prices remain depressed on Tuesday, as hopes of a new round of peace talks between the US and Iran boosted hopes of a de-escalation of the Middle East conflict.