Key Currency Exchange Rates
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Oil Set for Weekly Gain as Crude Stockpiles and Dollar Decline
Futures have climbed 3.8 percent in New York this week after reaching the highest since December 2014 on Thursday. Crude stockpiles fell for a 10th week to the lowest level…
The Iran Deal Is Dead; Here’s What That Means for Crude Oil Prices
Short term, oil-pricing volatility will continue. Traders will likely consider any forward interruption – perceived or actual – in Iranian crude export flow as upward pressure on global prices. If this happens and JCPOA is not immediately closed, (i.e., should those second and third possible scenarios I mentioned play out), there will be a pullback. Overall, other factors have been contributing to an increasing floor for the oil-pricing band, supported by continuing OPEC production problems in Venezuela, Nigeria, and Libya. Click Read More below for additional information.