WTI Crude Oil futures and options are the most efficient way to trade the largest light, sweet crude oil blend. Hedge to minimize the impact of potentially adverse price moves on the value of oil-related assets, or trade to express your views on oil price movements. In September, oil prices surged, with West Texas Intermediate crude activtrades forex broker touching $95 a barrel and Brent, the international benchmark, inching closer to the key $100 level. Gasoline prices are impacted by crude oil price changes and can be traded with RBOB futures or RBOB as a spread to WTI. Defense stocks have jumped this week following the outbreak of the Israel-Hamas war, with the iShares U.S.

Some investors believe higher yields are here to stay, influencing Thursday’s downturn in the equity market. Northrop Grumman stock jumped as much as 12% on Monday, with General Dynamics, Lockheed Martin, and RTX also surging. Artificial intelligence-related stocks have rallied as the theme gained traction this year, with investors piling into favorites such as Nvidia and Microsoft. The analysts expect the South Asian country to give “one of the highest returns among key markets throughout the world for the next several years.” Just last week, the Reserve Bank of India kept interest rates steady at 6.5%.

• Core inflation in the Southeast Asian city-state came in at 3.4% year-on-year for the month of August, easing from July’s figures.
• However, in real-world trading scenarios, simplicity often gives way to complexity.
• Our Chart of the Day is from YCharts, which shows that US oil production surged to a record high of 13.2 million barrels a day last week.
• The pullback is undeniably one of the most valuable trading patterns as it offers an opportunity to join established trends at favourable levels of risk / reward.
• The new record high also comes as oil prices have also jumped in recent months, with Brent crude up 24% since June.
• The Q3 earnings season begins this week in the US, with banks taking centre stage.

“Our sense is that the FOMC will need to see core inflation break below 4% and believe it will continue to trend downward to pause and remain on hold for a prolonged period,” Senyek wrote to clients. The reading came in below expectations of a 5.5% increase by economists polled by Reuters, and still remains above central bank’s target of 4%. It guides the Singapore dollar against an undisclosed basket of currencies of its major trading partners, adjusting the pace of its appreciation or depreciation by tweaking the slope, width and center of the currency band. The Monetary Authority of Singapore does not disclose any detail relating to this band.

Oil prices have seen big movements recently, from talk last month of $100 a barrel right around the corner to prices hitting the brakes before retreating below $90 this month. The Israel-Hamas conflict that erupted on Saturday is just the latest driver in a market that’s seen big volatility in 2023. Building on the strength and liquidity of Micro WTI futures, Micro WTI options can add versatility to your crude oil strategies. During the following years, it had climbed steadily until it reached its all-time high of more than $147 a barrel in mid-2008. However, the bullish trend reversed in the second half of the same year, with the crude oil spot price falling as low as $37.80 a barrel in early 2009.

Israel calls up 300,000 reservists

“Demand destruction has begun (again),” JPMorgan’s Natasha Kaneva said in a note last Wednesday, adding that “global oil stock draws have ended.” Events such as war, financial crises and elections can affect oil policy and costs. Track forward-looking risk expectations on WTI Crude Oil with the CME Group Volatility Index (CVOLTM), a robust measure of 30-day implied volatility derived from deeply liquid options on WTI Crude Oil futures. The investment bank argues this may provide the backdrop for the RBA to raise its cash rate another two times, pushing it to 4.6 per cent.

The company earned $4.18 per share versus $2.78 per share in the year-earlier period. Delta Air Lines traded more than 2% higher in the premarket after the airline delivered third-quarter velocity trade earnings that beat analyst expectations. The luxury sector saw shares continue to pull back Thursday, on the back of LVMH Moet Hennessy Louis Vuitton’s disappointing quarterly sales.

Dow closes more than 150 points lower as inflation data reignites interest rate fears: Live updates

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Oil – US Crude-bearish contrarian trading bias. Birkenstock’s recent initial public offering (IPO) is expected to help boost shares of a British footwear brand, according to Investec analysts. Stronger economic growth, accelerating government spending and a bottoming out of inflation are just some reasons why many analysts are bullish on India — and asset management firm AllianceBernstein is no exception.

Despite economic uncertainties, the company expects significant improvements in full-year profit growth and half-year results compared to previous expectations of modest revenue growth. Spot the best trading opportunities with the interactive crude oil price graph and numerous technical indicators at Capital.com. The war coincided with an oil supply shortage and led to a massive spike in the price of crude oil. Year to date, 88 companies have debuted on the public markets, up 37.5% from this point a year ago. That includes sandals manufacturer Birkenstock, which had an IPO price of $46 a share, but ended up closing Wednesday’s trading at $40.20, a 12.6% decline.

Public pension fund CIO says warns of tough market outlook amid higher-for-longer rate environment

While there is a surge in crude prices, analysts believe it will be a knee-jerk reaction, and likely temporary. Global benchmark Brent settled 4.2% higher at $88.15 a barrel, java archive downloads java se 9 while the U.S. Money managers cut their net long U.S. crude futures and options positions in the week to Oct. 10 by 39,556 contracts to 240,204 during the period, the U.S.

Jamie Dimon warns of the ‘most dangerous time’ for the world in decades, sounding the alarm on wars, soaring debt, and the Fed

Iran’s Foreign Minister Hossein Amirabdollahian on Friday discussed the Israeli-Hamas conflict with the head of the powerful Tehran-backed Lebanese armed group Hezbollah, which has launched its own cross-border attacks on Israel. Brent also recorded a weekly gain of 7.5%, its biggest such increase since February. Israel’s announcement marked a shift from an air war to ground operations to root out Hamas fighters a week after the militant Palestinian group’s deadly rampage in southern Israel.

Crude Oil News: Read the Latest Analysis on WTI and Brent

Victoria’s Secret & Company — Shares rose 1.1% after the company’s third-quarter guidance came in stronger than expected. Hong Kong’s Hang Seng Index rose more than 2% in afternoon trade, leading wider gains in the region, boosted by financial stocks. “It’s going to be tough for the market to move ahead and mostly because of higher interest rates,” he told CNBC’s “Squawk on the Street” on Thursday, due in part to heightened uncertainty fueled by geopolitical risks and climate concerns. Although shares of Walgreens have jumped more than 10% since Monday, the sector has been pulled lower by Hormel Foods and Lamb Weston, which are down 10.8% and 8.3%, respectively. Sonu Varghese, Carson Group vice president and macro strategist, similarly noted an “immediate negative correlation to equity prices” when yields rise, particularly over a short period of time as they have been in recent weeks. Equities continue to head south “as the market realizes that yields will move higher,” he said.

Oil surges nearly 6% after Israel begins ground raids into Gaza

WTI is a blend of several oils drilled and processed in the United States, primarily serves as a benchmark for the US oil market. The YasaGolden Bosphorus tanker, which is owned by Turkey-based Ice Pearl Navigation Corp, was said to have carried crude oil priced above $80 a barrel after the price cap took effect. The picture changed again this weekend, this time on fears that fresh conflict in the Middle East would hurt global crude supply. Prices jumped on Monday after Hamas launched a surprise attack against Israel, kindling fears of a wider regional conflict.

The reference oil traded most frequently and of major significance for the USA is West Texas Intermediate (WTI), while the most important in Asia is Dubai Fateh. Other reference oil types include Leona, Tijuana, Alaska North Slope, Zueitina or Urals. In general, the US crude oil rate significantly relies on the wider performance of the US economy. In addition, as with any other traded commodity, its value depends on the basic laws of supply and demand. For example, when supplies are tight, you can expect the price of oil to rise. US crude oil is one of the world’s most valuable commodities available for trade.

India is slated to release its inflation numbers for September later Thursday, with Reuters’ analysts forecasting a 5.5% year-on-year climb. Exxon estimated its production volume in the Permian Basin would more than double to 1.3 million barrels of oil equivalent per day. On Wednesday, Exxon Mobil said it agreed to buy Pioneer Natural Resources for $59.5 billion in an all-stock deal, or $253 per share.

Front-month futures on West Texas Intermediate crude, the U.S. pricing benchmark, fell 5.6% Wednesday to settle a bit above $84 a barrel. The fall was its fourth in five sessions and its lowest settle since late August; WTI is off 10% since setting a 13-month high of $93.68 a barrel last Wednesday. There could be “a pretty dramatic effect on the oil market” should the U.S. enforce sanctions on Iranian exports, said Josh Young, CIO of energy investment firm Bison Interests. “I think it’s appropriate to see oil, let’s say, [up] about $5 for WTI,” he forecasts. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world’s media organizations, industry events and directly to consumers.

“The way this becomes an authentic problem for the oil market, and contributes to a much bigger spike is if the market believed the fighting would spread to Hezbollah in Lebanon,” he said. “Under encouragement from the U.S. and secret nuclear talks, Iran saw its oil exports and production grow by some 600-k b/d to 3.2-m of output between end 2022 and mid-2023,” Citi said in a note. Russia is the world’s second-largest oil producer and a major exporter, and the tighter U.S. scrutiny of its shipments could curtail supply.