Crude oil prices are moderating after a multi-day rally that was aided by a weaker US Dollar and risk-on flows. Traders are likely sitting on the sidelines ahead of tonight's EIA inventory data.
Gold prices languished around the 1,700 level despite a weaker US Dollar. Crude oil prices took advantage of a pickup in demand prospects. Where next for XAU and WTI?
Crude oil prices are slightly higher after finding support near the March swing low as global growth fears intensify amid a new wave of Covid cases in China. EIA inventory data is in focus.
Crude oil prices fell about 4 percent overnight, reinforcing a key resistance zone as prices left behind a bearish technical warning sign. Are further losses in store for energy prices?
Oil prices in the Brent and WTI benchmarks steadied this morning after dropping on Monday as Covid jitters take hold as Beijing locks down. The API and EIA inventory data sets are in focus this week.