Summary: Oil prices face downward pressure due to a surge in global inventories and slowing demand growth according to Bank of America, who highlight a significant inventory build after geopolitical tensions.
Full articleSummary: Large speculators increased short exposure to EUR/USD and CAD futures, net-long exposure to GBP/USD and NZD/USD futures increased, managed funds reduced short exposure to WTI crude oil while increasing short exposure to Dow Jones E-mini futures. Gold and silver net-long exposure was lower among large speculators
Full articleSummary: Oil prices experienced minimal change after a recent drop, with Brent crude up 21 cents at $83 a barrel and U.S. West Texas Intermediate crude up 27 cents at $78.53. Factors influencing the market include indications that U.S. policymakers will maintain higher interest rates for longer, potential changes in borrowing costs in the UK and Europe compared to the U.S., U.S. inflation data affecting Federal Reserve policy, and production cuts by OPEC+.
Full articleSummary: Multiple companies have had their stock target prices adjusted by various analysts, including Jefferies, Bernstein, and Raymond James.
Full articleSummary: WTI crude oil prices drop to nearly monthly low as concerns about wider Middle East war fade. Iranian Foreign Minister stated Iran does not plan to respond to Israel's retaliatory strike, while Israeli authorities remained mostly silent. Any escalating tensions between Israel and Iran could limit WTI's downside from its lower price levels.
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