Forex Top Team

Hoping for Calm in the Middle East, Watching Crude Oil Market

The conflict between Israel and Hamas is escalating, and the situation remains tense. In the midst of this, the U.S. president is planning to visit Israel tomorrow. Hopes are high that humanitarian measures will be strengthened without adding fuel to the fire of the intensifying confrontation, and the forex market is closely watching this development. […]

Weekly EIA crude oil inventory-1.6 million barrels

US crude oil inventory volatility for the week to September 18 was -1.6 million barrels. The reaction is a rise in crude oil prices. It is assumed that pressure was also applied to the rise in GBP earlier. Currently, Switched to CAD buying, which has a strong correlation with crude oil.

China’s oil demand has almost recovered to the level before the new Corona

China’s oil demand has almost recovered to the level before the new Corona (Source: Bloomberg) This pushed up the crude oil price, and the US stock price was high.With this momentum, it is possible that the rise will not stop until around $ 40. US stocks and crude oil both rose again. Risk on tonight.