
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
Key events ahead:
Crude oil inventories – 17:30 MT time
Yesterday’s private survey showed larger-than-expected cut in oil output. The data by American Petroleum Institute estimated a crude oil inventory draw of 11.1 million barrels (vs. the expectations of 2.11-million barrel draw). It boosted the prices for oil. Today we are awaiting the official release by the Energy Information Administration (EIA). According to the forecasts, we will see the number of barrels to decline by 2.8 million. If it is bigger, the oil prices will rise higher.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
Organization of the Petroleum Exporting Countries (OPEC) is scheduled to meet on January 4.
What will happen? Crude oil inventories will be announced at 17:30 MT (GMT+3) on Wednesday, September 29…
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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