Asia - Commodities Fundamental Forecast | 18 December 2023
Oil
Key news events today
No major news events.
What can we expect from Oil today?
Crude oil prices notched its first weekly gain in two months as rate-cut hopes by the Federal Reserve lifted this commodity. Dovish signals from the Fed have been a key support for commodity markets last week as WTI oil climbed above $72.00 per barrel. US rate cut optimism could boost the energy demand outlook domestically with the nation being the largest consumer of crude in the world. WTI oil was trading around $72.00 as Asian markets came online and prices could edge higher today.
Next 24 Hours Bias
Weak Bullish