Crude prices remain volatile as fresh lockdowns and pandemic panic are set to continue to impact demand
In Friday trading, Brent crude was priced above US$65 with West Texas Intermediate (WTI) above US$61 a barrel Oil demand was expected to increase in the second quarter and beyond, but with the setback, refiners will soon be adjusting capacity due to low demand
In a week when the US committed to cutting greenhouse gas emissions in half by the end of the decade, the oil market remained volatile as uncertainty rules the day.
The economic recovery continues to be choppy and the pandemic continues to claim thousands of victims every day. In Friday trading, Brent crude was priced above US$65 with West Texas Intermediate (WTI) above US$61 a barrel.
Former Olympian and Reality TV star Caitlyn Jenner has just announced plans to run for California governor as Democratic Gov. Gavin Newsom faces a recall election amid widespread public resentment over his handling of the COVID-19 pandemic, which has hammered the Golden State despite Newsom s restrictive, economy-killing measures.
In a statement shared on her twitter account, Jenner promised to fight for small business owners, lamenting that businesses across the state have been devastated because of the over-restrictie lockdown. An entire generation of children have lost a year of education and have been prevented from going back to school, participating in activities or socializing with their friends.
1 hour Venezuela Ups Domestic Oil Refining, Hurting Crude Exports 17 hours Refiner Valero: U.S. Renewable Diesel Stocks Are Running Low 18 hours China Pledges To Start Cutting Coal Consumption In 2026-2030 20 hours Africa’s Largest Oil Producer Loses $29B Per Year On Power Outages 22 hours Biden’s Aggressive Emissions Target Could Have A Major Impact On U.S. Oil 1 day Iran Exports 500,000 Bpd Despite Sanctions 1 day Mexico Congress Passes Controversial Pro-Pemex Bill 2 days U.S. Cancels All Q2 Oil, Gas Lease Sales 2 days Oilfield Services Giants Optimistic About Drilling Recovery 2 days Gunmen Abduct Oil Workers In Northeast India 2 days Billionaire Trader: Seismic Shift Is Taking Place In Houston Oil Patch
4/22/2021 6:11:25 AM GMT
Hawkish BoC guidance prompted some aggressive selling around USD/CAD on Wednesday.
Weaker crude oil prices undermined the loonie and helped limit further losses for the pair.
Mixed technical set-up warrants caution for aggressive traders and placing directional bets.
The USD/CAD pair witnessed a dramatic intraday turnaround and nosedived nearly 200 pips from six-week tops in reaction to more hawkish forward guidance by the Bank of Canada (BoC). As was widely anticipated, the BoC left the policy rate unchanged at 0.25% and reduced its weekly asset purchases to C$3bn from $4bn amid an improving economic outlook. In the accompanying policy statement, the central bank brought forward its guidance for the first interest rate hike to the second half of 2022.
The case against reparations for slavery spectator.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from spectator.co.uk Daily Mail and Mail on Sunday newspapers.