WTI crude oil pares OPEC+ led gains above $79.00 amid sluggish markets – by anilpanchal7 Oil WTI OPEC RiskAversion Commodities
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Breaking: WTI crude oil jumps 7.0% to $81.00 on surprise OPEC+ output cutBreaking: WTI crude oil jumps 7.0% to $81.00 on surprise OPEC+ output cut – by FXstreetNews Breaking Oil WTI OPEC Commodities
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WTI Price Analysis: Corrects to $80.00 after a gap-up move, volatility to remain highWest Texas Intermediate (WTI), futures on NYMEX, have shown some correction after failing to sustain above $81.00 in the Asian session. The oil price
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Dollar gains as inflation worries resurface after OPEC+ surpriseThe U.S. dollar started the week higher as fears over inflation resurfaced after a surprise announcement by major oil producers to cut production further, with traders wagering the Federal Reserve may need to increase interest rates at its next meeting.
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Saudi Arabia, OPEC+ producers announce voluntary oil output cutsThe Saudi energy minister said it was a precautionary measure to support the stability of the oil market.
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VIEW OPEC output cuts to roil markets, little room for others to respondA surprise production cut by Saudi Arabia and other Middle East producers has caught the energy industry flat-footed and will lift global prices with little room for a coordinated response by oil-consuming nations, industry executives said on Sunday.
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OPEC+ announces surprise oil output cutsOil prices last month fell towards $70 a barrel on concern that the global banking crisis would hit demand. Still, further action by OPEC+ to support the market was not expected as crude recovered toward $80.
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