The rally on the oil market continues unabated and OIL.WTI leads the charge. Prices are up again this Thursday, breaking $34. As recently as 28 April OIL.WTI traded at $17.50 so this marks a nearly 100% rally in less than a month! These gains were fueled by production cuts and demand recovery amid eased lockdowns. Yesterday’s data confirmed another decline in US oil inventories although it also pointed to somewhat weaker demand recovery.
US pending home sales MoM came in 1.8% vs 0.13% exp. and -6.3% previously (Homes Index: 72.6 vs 71.3 previously)
14:56Platinum prices declined from $1,415 to $1,374, though the metal is currently attempting a rebound. However, analyzing the chart and the current price...
14:36Oil rose after the Financial Times reported that early intelligence suggests Iran’s uranium is largely intact and Tehran has been able to move a...
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