BitcoinEthereumNews·
The post Oil: Deficits support higher prices – TD Securities appeared on BitcoinEthereumNews.com. TD Securities’ Ryan McKay argues that Crude Oil is far from oversupplied, with high-frequency global and Chinese balances still pointing to tightness. McKay expects ongoing market deficits, inventory drawdowns and the rebuilding of buffers to keep prices elevated, projecting a recovery toward $90/bbl and possible extension toward $100/bbl as structural tightness persists. Structural tightness and deficit outlook “Our high-frequency estimates of global and Chinese supply-demand balances, along with Middle Eastern production, continue to point to market tightness despite increased flows through the Strait of Hormuz. Ongoing market deficits, inventory drawdowns, and longer-term rebuilding of market buffers should see prices recover toward $90/bbl, with potential for a move toward $100/bbl.” “Flows through the Strait of Hormuz have increased notably since the signing of the MoU [Memorandum of
Read full articleThe strikes in the Strait of Hormuz highlight vulnerabilities in global energy supply chains, impacting oil prices and crypto market stability. The post British military reports strikes on three tankers in Strait of Hormuz appeared first on Crypto Briefing.
The post Iran Reportedly Hits Ships in Strait of Hormuz: Oil Price Jumps Again appeared on BitcoinEthereumNews.com. Oil prices climbed on Tuesday after Iran reportedly fired at least two missiles at commercial ships crossing the Strait of Hormuz, reviving fears over the world’s key oil chokepoint and the fragile truce between Washington and Tehran. The rebound landed just days after crude erased its entire war premium and sank closer to pre-war levels. Oil Rebounds Following Sharp Slide Toward Pre-War Levels West Texas Intermediate (WTI) crude rose 1.50% to $69.575 on Tuesday. Brent crude gained 1.64% to $73.169. The wider energy sector also gained. Gasoline rose 0.17%, and heating oil added 0.62%, while natural gas climbed 1.48%. Follow us on X to get the latest news as it happens Oil Prices Rise on Tuesday. Source: TradingEconomics Both oil benchmarks sit far below their wartime highs. Brent has dropped more than 22% over the past month, and WTI has fallen nearly 24% in the same spa
The post Euro holds steady as traders assess Fed and ECB interest rate paths appeared on BitcoinEthereumNews.com. EUR/USD trades in a narrow range on Tuesday as traders await greater clarity on the Federal Reserve’s (Fed) and European Central Bank’s (ECB) interest rate paths. At the time of writing, EUR/USD is trading around 1.1436, little changed on the day. Inflation risks have moderated as Oil prices have fully unwound their US-Iran war-driven rally following last month’s interim peace agreement, which reopened shipping through the Strait of Hormuz. However, policymakers on both sides of the Atlantic continue to signal that monetary policy is likely to remain restrictive in the coming months, with inflation running above their respective 2% targets. ECB Governing Council member Fabio Panetta said on Tuesday that the “outlook remains fragile,” adding that “upside inflation and downside growth risks remain.” ECB Governing Council member Pierre Wunsch said on Monday that “it seems that
The post Canada International Merchandise Trade registered at $4.24B above expectations ($2.7B) in May appeared on BitcoinEthereumNews.com. Gold stages a rebound after dropping toward $4,100 earlier Tuesday and trades above $4,150 in the American session. Crude oil prices edge higher amid renewed tensions in the Strait of Hormuz, reviving inflationary concerns. This, in turn, triggers a fresh leg up in US Treasury bond yields, offering some support to the US Dollar, and making it difficult for the yellow metal to gain traction. Source: https://www.fxstreet.com/news/canada-international-merchandise-trade-registered-at-424b-above-expectations-27b-in-may-202607071230
The prolonged closure of the Strait of Hormuz could lead to sustained global shipping disruptions, impacting oil prices and economic stability. The post Iran conflict disrupts global shipping as Strait of Hormuz remains closed appeared first on Crypto Briefing.
The escalating tensions near the Strait of Hormuz could lead to increased regulatory scrutiny on cryptocurrency transactions and impact global oil prices. The post IRGC fires missiles at commercial ships near Strait of Hormuz, rattling oil and crypto markets appeared first on Crypto Briefing.
The depletion of US oil reserves amid geopolitical tensions may lead to sustained higher oil prices, impacting global economic stability. The post US crude oil inventories fall to lowest level since 1983 as SPR drawdown accelerates appeared first on Crypto Briefing.
Saudi Arabia's oil price cut may exacerbate global economic instability by intensifying oversupply issues and affecting market dynamics. The post Saudi Arabia cuts oil prices, amplifying global oversupply concerns appeared first on Crypto Briefing.
