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On Monday, oil tacked on in Asia, with market participants paying attention to quite busy week of data points on demand and supply.
American West Texas Intermediate crude futures rallied 0.26% being worth $49.42 a barrel. At the same time Brent futures added 0.20% trading at $55.73 a barrel.
Japanese markets are still unavailable, while China returns from a week-long holiday.
In the week ahead, investors will closely watch fresh weekly data on American stockpiles of crude as well as refined products on Wednesday and Thursday in order to further assess the real impact of recent storm activity was on demand and supply.
The reports emerged one day later than usual because of the Columbus Day holiday in the USA on Monday.
Besides this, crude traders are going to focus on monthly data from the OPEC members and also the International Energy Agency to evaluate global crude supply as well as demand levels.
What will happen? The Organization of the Petroleum Exporting Countries and 10 additional oil-exporting countries, including Russia, will hold a videoconference on July 1…
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
Sudden spikes? Yes, please! Gold is above $1,800, finally!
What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
This week Apple, Microsoft, Google, Facebook, Pfizer, and other large US companies will deliver earnings reports…
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