Ready to Get Started?
Start here. Join over 12M Libertex users around the world!
OPEC monthly market report shows no change in demand outlook-Brent unfazed
The regular monthly oil market report from OPEC has just been released. The oil cartel have just said their 2026/7 demand outlook forecast is unchanged. The demand outlook for 2027/8 is also unchanged.
Ahead of this report Brent was stepping back slightly from an earlier high this morning which had seen the January contract rebound to $93.61 per barrel. It was trading around $93.15 when OPEC released their report. The immediate reaction is not exactly electric and this report has actually added nothing new. On the plus side, OPEC have not lowered demand, but that is about the extent of it. Brent crude is right now at $93.15
Market News
All News-
EUR/USD takes out 1.1105 and sets a new 2026 low at 1.1094
Well, we said it was magnetic and it has now been taken out. The prior 2026 low at 1.1105 has just now been surpassed on the downside and the EUR/USD...
-
We said it was not finished with the topside yet- USD lifts above 159.25
A little earlier today we noted how the USD/JPY had now traded above its 100 day moving average and momentarily stalled at 159.04, which was a...
-
EUR/USD slips below first support
Much earlier this morning we noted how the rebound in the EUR/USD such as it was, was not impressive and basically what is known as a dead cat bounce...