The White House’s top energy advisor Amos Hochstein criticized shale drillers for their refusal to increase oil production. As it was stated by CEO of Pioneer Natural Resources Scott Sheffield, U.S. shale producers aren’t going to drill more.
Oil is likely to hit $100 per barrel in 2023. This is reported by Eric Nuttall, senior portfolio manager at Ninepoint Partners LP, in his interview with the Financial Post.
S&P Global Vice Chairman Daniel Yergin stated that after the easing of restrictions against COVID, China's economy will reopen and oil prices can reach $121.
Despite the agreed sanctions, the European Union (EU) has allowed Slovakia to export oil products from Russian fuel. This was reported this Wednesday by the Reuters news agency, referring to Karel Hirman, Slovakia's Economy Minister.
After several sell-offs that devastated the natural gas market, bulls got a little respite. It’s related to the official arrival of winter and cold. The ambiguity of these forecasts doesn’t allow determining whether an uptrend will take place immediately or not.
The rise in oil prices continues for the fourth day in a row amid tightening stocks of U.S. crude, heating oil and jet fuel in the United States. On Wednesday, Brent and WTI crude oil jumped due to a significant decline in US crude oil inventories.
The Federal Reserve (Fed) refrained from softening its forward guidance. But markets doubt that the central bank will strictly adhere to the previously announced plan. Therefore, the U.S. dollar is expected to decline. This is reported by Stephane Marion, Chief Economist and Strategist of the National Bank of Canada.
The yen slightly weakened on Wednesday but retained its advance against the dollar seen in yesterday's session. Traders are still confused by the Bank of Japan’s policy tweak.
The Bank of Japan (BoJ) announced an unexpected change to its yield curve control (YCC) policy. The immediate impact on the yen was significant, with USD/JPY falling more than 3%.
On Tuesday, the yen jumped to its record highs in four months. The surge was caused by an unexpected announcement made by the Bank of Japan of a change in its bond yield control program.
