EBC Markets Briefing | Oil prices catch breath after a freefall
Oil rose in early Asian trade on Wednesday on continued uncertainty over conflict in the Middle East, after falling as much as $5 this week to the lowest levels since early October.
The OPEC and the IEA cut their forecasts for global oil demand growth in 2024 mainly due to China. The world’s second largest economy imported nearly 3% less crude oil in the first nine months than a year ago.
Israel will take into account the “opinions” of the US but will ultimately act against an Iranian missile attack according to its own “national interests”, PM Benjamin Netanyahu’s office has said.
EBC Institute Perspectives Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC International Business Expansion or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Pound Suppressed by Weak Inflation
Stocks under pressure by chipmakers, pound slips on CPI drop
EUR/USD Continues Downward Amid Economic Uncertainties
The Crypto Market Is Trying to Form an Uptrend
USDJPY faces a pass or fail test
Daily Global Market Update
What Will Happen With The USD If Trump Or Kamala Wins?
