Commoney Wise
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
  • Login
  • Register

  Breaking
Union Budget 2023: Finance Minister Nirmala Sitharaman Meets India Inc | Breaking News | CNBC-TV18 February 8, 2023
Romney told Santos ‘You don’t belong here’ in tense exchange in House chamber before SOTU February 8, 2023
Five key economic points in Biden’s 2023 State of the Union address to Congress February 8, 2023
Microsoft’s Activision takeover could harm gamers, UK regulator says February 8, 2023
Binance Helps Turkey Earthquake Victims By Airdropping Free BNB Tokens – Here’s What You Need to Know February 8, 2023
Next
Prev

en English
en Englishes Españolde Deutschfr Françaisit Italianopt Portuguêsru Русскийzh-CN 简体中文hi हिन्दीja 日本語
Casino
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
No Result
View All Result
Commoney Wise
Casino
  • News
  • Politics
  • Business
  • Economy
  • Finance
  • Investing
  • Markets
  • Crypto
  • Tech
  • Videos
Home Markets Forex

WTI consolidates near fresh bear cycle lows

Staff by Staff
December 12, 2022
in Forex
0 0
A A
0
  • WTI printed fresh bear cycle lows on Friday. 
  • Focus is on TC Energy and the price of Russian crude trading below the $60/bbl cap.

West Texas Intermediate is higher by some 0.57% on the day having travelled between a low of $71.47 and a high of $72.30. However, a fresh 2022 low was put into place on Friday due to supply concerns following a major spill from TC Energy’s Keystone Pipeline in Nebraska.

Nearly a fifth of Canada’s oil exports to the United States was shut off at the same time that tankers carrying Russian crude are backed up in the Black Sea following the imposition of European Union sanctions and price caps.

TC Energy shut the pipeline system following a spill of about 14,000 barrels of oil into a creek south of Steele City, Nebraska, according to the US Pipeline and Hazardous Materials Safety Administration (PHMSA). 

Meanwhile, analysts at TD Securities, explained that with the price of Russian crude trading below the $60/bbl price cap, the sanctions are seen as less useful, while a surge of Russian exports ahead of the announcement likely loosened the fundamental picture.

At the same time, the analysts noted that OPEC’s decision to not deepen their output cuts also weighed on market sentiment. ”But the OPEC decision not to cut supply further may only be temporary, if the export flows from Russia do not drop significantly due to the $60/b price cap,” the analysts previously said. ”Plus, notwithstanding the fact that Russia has some 100 hastily assembled tankers and sanction avoidance by exporters, the higher shipping costs (more distant delivery ports) and less efficient logistics imply some reduction from Moscow.”

Read the full article here

ShareTweetSharePinShareSendShare
https://www.madmoneycasino.com/?faff=667&sub=DemCasino

Related Articles

Forex

GBP/USD: Gains to pick up through low-1.21s – Scotiabank

February 8, 2023
Forex

EUR/USD: Defense of 1.0680 crucial to avert deeper fall – SocGen

February 8, 2023
Forex

The nomination of a hawkish BoJ Chair would be illogical – Commerzbank

February 8, 2023
Forex

USD/CNH: Further gains to 6.8500/6.8800 remain on the table – UOB

February 8, 2023
Forex

USDINR: Further Rupee weakness, RBI’s intervention level could shift higher to 84.00 – Credit Suisse

February 8, 2023
Forex

USD/JPY Price Analysis: Lacks direction between seven-week-old support and 50-DMA

February 8, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Commoney Wise

Commoney Wise is your one stop news website for the latest finance, business and crypto news, follow us to get the news that matters to your minute by minute.

Our Other Brands Kronosslott, Commoneywise, Demcasino.de, SportsExtremes.tv, Slotgamesusawwr, Coin Desk Times, Kingsofgolf.be

Topics

Business Commodities Crypto Economy Finance Forex Futures Investing Markets News Politics Stocks Tech Videos

Get Informed

The most important world news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • Privacy
  • Terms
  • Press
  • Advertise
  • Contact

© 2022 Commoney Wise. All Rights Reserved.

No Result
View All Result
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos

© 2022 Commoney Wise. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.