Oil prices rose sharply after Reuters, citing anonymous sources, reported that Russia at the next OPEC + meeting, which will be held on October 5, will propose an even greater reduction in oil production by up to 1 million barrels a day.
OIL, interval H1. Crude oil is rapidly gaining as a result of rumors surrounding a possible significant reduction in production by OPEC +. Price bounced back above the 50 day moving average around $ 85.00. The next target for bulls can be found around $ 90.00 level, where the SMA200 is located. Source: xStation5
📊Daily Summary - Hawkish Fed raises rates and signals more. Dollar gains while gold falls
Hawkish move from the Fed! Warsh takes no prisoners in the fight against inflation. US500 at its lowest since August 3, and gold already below $4,300.
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