Oil rebounds, set for third straight weekly rise

April 22, 2016

Oil benchmarks on both sides of Atlantic resumed its upward trajectory on Friday, reversing a temporary slide seen the day earlier and remain poised to book third straight week of gains.

WTI up 12%, Brent gains 8% this week

Currently both crude benchmarks are heading higher for a retest of fresh five-month highs, with WTI now rising 1.30% to $ 43.73 while Brent oil gains +1.15% to $ 45.03. Oil prices are staged a solid comeback this session after retreating from 5-month tops yesterday, as sentiment remains favourable towards the black gold amid positive fundamentals. 

The recent upbeat data from China and more cash inflows into the commodities’ markets by investors have helped underpin the oil recovery. Moreover, falling US oil production combined with a smaller-than expected rise in the US crude stockpiles also adds to the upbeat sentiment around oil markets.

Ahead in the day, all eyes remain on the Bakers Hughes oil rigs count data and USD moves for further momentum on the oil prices. 

Publication source
OctaFX information  OctaFX reviews

February 21, 2017
Global risk appetite remains strong
The Australian economy continues to be a roller coaster for any Aussie bulls, but one thing is certain the markets are not paying too much attention at present with the AUDUSD being one of the stand out performers in 2017 so far.
February 20, 2017
U.S. dollar attempts to post a recovery amid a slow trading day
The U.S. dollar is attempting to post some gains to build up from Friday's reversal. Price action has formed an inside bar among EURUSD and USDJPY which could indicate a potential breakout trading that could establish the near-term direction of prices...
February 20, 2017
FOMC & RBA February meeting minutes, key data in focus
In the US, the Fed will release the minutes of its February meeting. Markets will probably focus on any signals regarding the timing of the next rate hike...

EXNESS Rating
Tickmill Rating
NPBFX Rating
FxPro Rating
Cms Trader Rating
FXCM Rating

OptionFair Rating
OptionTrade Rating
Dragon Options Rating
UKoptions Rating
365BinaryOption Rating
Empire Option Rating