The front-month WTI crude oil contract retreated, after rising to a 10-month high of US$ 55.22/bbl (just 2 cents shy of 2017-high of US$ 55.24/bbl) earlier in the day. Traders took the EIA inventory data as a reason for profit-taking. The WTI contract …

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Recording 5-7% gains in October, crude oil prices began the third quarter in a good shape. The key drivers for the rally were geopolitical tensions aided by OPEC/ non-OPEC verbal support for extension of the output cut deal. Whether the strength can su…

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Oil’s rally gathered momentum on Friday as Saudi Arabia reinforced support of extending the output cut deal beyond March 2018 and Iraqi conflicts have shown no signs of abating. While these two factors had sent the Brent crude contract above US$ 60/bbl…

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Landslide victory of PM Shinzo Abe’s Liberal Democratic Party (LDP) at the snap election has sent USDJPY to the highest level since July. Unlike other currencies that tend to strengthen in light of erasure of domestic uncertainty, Japanese yen, as a sa…

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Driven by geopolitical tensions in the Middle East and helped by further decline in US inventory and oil rig counts, oil prices clung onto gains last week. Both crude oil benchmarks rallied to the highest levels in the middle of the week but then retre…

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Crude oil prices retreated for the first time in 4 days as trader took profit. The losses were contained by a report showing US inventory decline last week. The front-month WTI crude oil contract dropped -1.36% while the Brent contract was down -1.21%….

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Crude oil prices recovered for a second consecutive day on Tuesday, as buoyed by comments from OPEC officials that the output cut deal could be extended until end-2018. OPEC Secretary-General Mohammad Barkindo suggested over the weekend that consultati…

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The same old tactic! Donald Trump again plays his budget brinkmanship, threatening a government shutdown if the Congress refuses to approve funding to build the border wall with Mexico. Market sentiment soured, just a day after it was lifted by comment…

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The US appears to be breaking the tax reform deadlock. House Speaker Paul Ryan reiterated that tax reform is different from healthcare reform. The former is “far easier” to pass as Republicans, which is control of both the House and the Senate, have bu…

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