Oil Latest – Traders on the Sidelines as OPEC+ Meeting Nears

Oil Analysis, Prices, and Charts The virtual OPEC+ meeting starts on Thursday and may prove fractious. Oil prices are set to tread water ahead of any announcements. Download our complimentary guide on How to Trade Oil Recommended by Nick Cawley How to Trade Oil DailyFX Economic Calendar The oil market may see a further bout

Brent, WTI Oil Prices Await OPEC Supply Cut Quotas for 2024

Oil (Brent, WTI) News and Analysis Delayed OPEC+ meeting to take place on Thursday at 13:00 GMT – individual quotas and supply cuts remain central to the meeting Brent crude prices head lower after notable rejection at the intersection of the crucial $82 level and the 200 SMA WTI flat ahead of OPEC meeting but

WTI Crude Oil dips amid easing geopolitical tensions, OPEC+ deliberations

Share: WTI crude oil prices declined following the start of a truce in the Gaza Strip. OPEC+ postpones crucial meetings, sparking speculations of potential oil production cuts for 2024. Global factors like higher US crude stockpiles, China’s uncertain oil demand, and non-OPEC production growth contribute to Oil price trends. West Texas Intermediate (WTI),

USD/CAD hovers around 1.3680 with a negative bias amid lowered Crude prices

Share: USD/CAD seems biased to move downward despite the weakening in Crude oil prices. WTI prices lose ground on an unexpected delay in an upcoming OPEC+ meeting. US economic data turn investors to perceive persistent inflation in the country. USD/CAD seems to extend its losses for the third consecutive session, trading slightly lower

USD/CAD retraces its recent losses, hovers around 1.3700

Share: USD/CAD trades higher post losses registered in the previous session. Canada inflation (YoY) fell to 3.1% in October, down from 3.8% prior. The decline in Crude oil prices could weigh on the CAD. US Dollar faces challenges despite improved US bond yields. USD/CAD recovers its intraday losses, hovering around the psychological level

WTI extends its upside around $77.50 on the hope for OPEC supply cuts

Share: WTI prices trade in positive territory for the third consecutive day on Tuesday. Saudi Arabia is planning to prolong oil production cuts of 1 million barrels per day through next year. The concern about a slowing global economy outweighed the prospect of deepening supply cuts by OPEC+. Oil traders will focus on