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Crude and Brent oil prices continue to struggle on the first trading day of the week as investors are apprehensive about the COVID related issues that are emerging in China. Demand, a potential recession and now the COIVD issues in China are making things difficult for oil traders.
The reality is that no one wants to see more lockdowns in China, as a situation like this creates nothing but more headwinds for oil prices.
Nonetheless, OPEC’s meeting remains the main anchor for oil prices this week. Oil prices are likely to remain highly volatile as prices are likely to react to all kinds of rumors. So far, what is priced in the market is that OPEC and its allies aren’t going to increase any production. Anything which deviates from this could make the price swing
Why does OPEC build It up Buttercup, baby, so the algos can crash it down and mess it around, and then worst of all (Worst of all) the market never falls When they say it will but...
Silver has been used for thousands of years as ornaments and utensils, for trade, and as the basis for many monetary systems. Of all the metals, pure silver has the whitest color,...
Commencing from the low on October 6th at USD 1,810, the price of Gold surged by nearly USD 200 or 11% in the subsequent three weeks, reaching USD 2,009. A two-week retracement...
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