Crude Oil Price Creates a Range After Failing to Gain. Where to for WTI?

Crude Oil, WTI, US Dollar, US Debt Ceiling, Fed, FOMC, Canadian Fires, EIA – Talking Points Crude oil rejected a move to the upside on Friday despite a soft US Dollar US debt ceiling talks are set to continue this week with a resolution needed soon If the Fed is changing tack, will the US economy boom to boost WTI? How to Trade Oil Crude oil continues to consolidate at the start of the Monday after posting a small gain last week with the US debt ceiling lurching toward the so-called X-date. Negotiations between US President Joe Biden and House Speaker Kevin McCarthy are due to resume on Monday. Mr McCarthy said that a productive phone call transpired between the two on Sunday. A softer US Dollar appears to be more pronounced in currency pairs and the gold price over the last few sessions. Higher Treasury yields saw some support for the ‘big dollar’ with the benchmark 2-year bond nudging 4.35% on Friday after having traded at 3.66% earlier this month. US Federal Reserve Chair Jerome Powell made remarks on Friday that were seen as potentially less hawkish than previous commentary. In regard to future policy decisions, he said, […]

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