Monthly Archives: June 2024
Oil Plummet On U.S. Crude Inventory Surge
Written on June 10, 2024 at 5:56 am, by
Market Summary Oil prices experienced their steepest decline of 2024, dropping over 5%, following the release of the American Petroleum Institute (API) weekly crude data, which revealed an unexpected inventory build-up exceeding 4 million barrels. This surprise data, coupled with OPEC+’s decision to increase oil supply in the fourth quarter, exerted significant downward pressure onContinue Reading
Oil Plummet On U.S. Crude Inventory Surge
Written on June 10, 2024 at 5:56 am, by
Market Summary Oil prices experienced their steepest decline of 2024, dropping over 5%, following the release of the American Petroleum Institute (API) weekly crude data, which revealed an unexpected inventory build-up exceeding 4 million barrels. This surprise data, coupled with OPEC+’s decision to increase oil supply in the fourth quarter, exerted significant downward pressure onContinue Reading
Soft PMI Reading Hammers Dollar Lower
Written on June 10, 2024 at 5:55 am, by
* U.S. Dollar continued to slide as the PMI readings came short. * Seeking today’s JOLTs job opening data to gauge the dollar’s strength. * Gold traded within its sideways range despite the dollar having been weakening. Market Summary The U.S. dollar remained on a downward trajectory following the release of yesterday’s PMI readings, whichContinue Reading
