Crude oil

〇 EIA: US Crude Oil Stocks Change at +4.6 million barrels in week ending May 1. From here, consider buying AUDUSD.

IA reports smaller-than-expected increase in US crude oil stocks. Commercial crude oil inventories in the United States increased by 4.6 million barrels in the week ending May 1st, the Energy Information Administration (EIA) announced in its Weekly Petroleum Status Report on Wednesday. This reading came in lower than the market expectation for an increase of …

〇 EIA: US Crude Oil Stocks Change at +4.6 million barrels in week ending May 1. From here, consider buying AUDUSD. Read More »

US stock index futures rise sharply following Gilead Sciences’ statement on remdesivir

The National Institute of Allergy and Infectious Diseases’ (NIAID) trial of the antiviral remdesivir for the treatment of COVID-19 met its primary endpoint, Gilead Sciences Inc. said in a statement on Wednesday. The company also published its results from the Phase-3 trial with key takeaways found below. Tonight, risk-on with the expectation of economic recovery …

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Crude oil futures, panic selling in June-WTI crude oil temporarily fell 42%

The oil market meltdown has continued for 21 days. Space for storing sloppy crude oil is running out worldwide, and sales of crude oil futures expanded beyond the contract month due to technical factors. The New York Commercial Exchange (NYMEX) West Texas Intermediate (WTI) May contract set a negative price for the first time in …

Crude oil futures, panic selling in June-WTI crude oil temporarily fell 42% Read More »