TD Securities strategists Oscar Munoz and Eli Nir argue that the Federal Reserve (Fed) faces conflicting signals as the Iran conflict drives an Oil shock.
West Texas Intermediate (WTI) trades around $88.20 on Wednesday at the time of writing, up 0.40% on the day, attempting to stabilize after a recent pullback.
The AUD/USD pair fell to near the 0.6960 price zone amid mixed Australian inflation data and shifting global risk sentiment, keeping traders cautious.
Gold (XAU/USD) extends its recovery on Wednesday after falling to four-month lows earlier this week, as early buyers step in following a sharp selloff.
TD Securities’ Senior Commodity Strategist Ryan McKay warns that Oil markets face escalating tightness as flows through the Strait of Hormuz remain severely restricted and Gulf production cuts exceed 10m b/d.
United States EIA Crude Oil Stocks Change registered at 6.926M above expectations (0.5M) in March 20
Commerzbank’s Dr. Henry Hao and Moses Lim note India's flash March PMIs point to growth moderation rather than a sharp slowdown, as manufacturing softens but external demand stays resilient.
OCBC strategists Sim Moh Siong and Christopher Wong highlight that rising Oil prices are worsening Japan’s terms of trade, fiscal risks and policy uncertainty, keeping the Japanese Yen (JPY) under pressure.
West Texas Intermediate (WTI) oil price gains ground after two days of losses, trading around $88.00 per barrel during the early European hours on Wednesday.
West Texas Intermediate (WTI) oil price has given up its recent gains from the previous session, trading around $93.20 per barrel during the Asian hours on Wednesday. Traders are awaiting the US Energy Information Administration (EIA) report due later on Wednesday for fresh cues on supply trends.
Deutsche Bank analysts highlight that Brent Oil remains above $100 but daily trading ranges have narrowed, signalling some easing in volatility.
OCBC strategists Sim Moh Siong and Christopher Wong revise their Brent Oil profile higher as the US–Iran conflict keeps the Strait of Hormuz effectively shut and Oil flows near a standstill.
