Crude oil futures have slumped this morning as Brent crude falls over 4% to start the week. Get your market update from JMcQueenFX here:
futures have slumped this morning as Brent crude falls over 4% to start the week. Firstly, the initial move lower in oil stemmed from weak data out of China with retail sales posting a sizeable miss on expectations, raising concerns over the demand outlook for oil.Meanwhile, recent comments made by the Iranian Foreign Minister has since exacerbated the move lower in oil, having stated that consensus is close in negotiations on the condition that Iran’s redlines are respected.
This in turn, has seen markets price in a higher probability that an Iran nuclear deal can be reached and thus oil prices have come under notable pressure throughout the London session. That being said, while a deal would likely see Brent crude oil head back below $90, focus is now on the response from the US, given that it is up to the US to decide if they agree with the three remaining issues. As such, oil sensitivity to headlines has increased.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Aramco Reports Record Profit, Injecting Saudi Kingdom With CashSaudi Arabia’s national oil company reported record quarterly profit on high oil prices, feeding a vault of cash the kingdom’s young ruler is using to build new momentum for reforms and strengthen his geopolitical position
Weiterlesen »
High oil prices help Saudi Aramco earn $88B in first halfSaudi oil company Aramco’s half-year profits peaked just shy of $88 billion as oil prices remain high globally.
Weiterlesen »
Saudi Aramco Sees Profits Jump 90% in 2nd Quarter Compared to 2021Saudi oil company Aramco’s half-year profits peaked just shy of $88 billion as oil prices remain high globally.
Weiterlesen »
Oil Prices Plunge To Six-Month Low As New Data Shows China Economy Unexpectedly Deteriorated Last MonthOil prices plummeted to the lowest level in months on Monday morning after worse-than-expected data from China showed its economy unexpectedly slowed last month.
Weiterlesen »