Oil plunged after the ship blocking the Suez Canal was partially re-floated. A $20 billion wave of block trades hit markets on Friday.
OIL: it started
Very short: WTI oil trades above $25 just after $20 in the morning!
Why? Two things: China's recovering economy is demanding oil, and Donald Trump is calling on Saudi Arabia and Russia to cut supply by 10mln bpd (no surprise Saudi Arabia calls for an emergency OPEC+ meeting now). Be careful and use the situation!
The US dollar is heading for the best week in three. The market sentiment is mixed as optimism about the global economic recovery was outshined by increasing tensions between the West and China.
A huge container carrier blocked the entire Suez canal. Among many, there are oil tankers waiting to continue their way through the canal. How is WTI price reacting?
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
Jump in to know the latest market news and trade ideas for today!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.