WTI struggles to hold above $90 despite material supply risks

West Texas Intermediate (WTI), futures on NYMEX, turns upside down to near $89.50 during the European trading session on Monday. The oil price continues to face selling pressure above the $90 mark even as financial markets see prolonged global energy supply risks amid ongoing tensions between the United States (US) and Iran. In the latest […]

Struggles near 1.3500 as USD stays firm

The GBP/USD pair trades with a negative bias for the second straight day, though it lacks bearish conviction and trades around the 1.3500 psychological mark during the Asian session on Monday. Moreover, spot prices hold above Friday’s swing low, warranting some caution for bearish traders. The US Dollar (USD) draws support from rising bets for […]

New Zealand Dollar edges lower as Fed bets, Iran tensions support USD

The NZD/USD pair attracts some sellers during the Asian session on Monday and currently trades near the 0.5870 region, down around 0.15% for the day. Spot prices, however, remain confined within Friday’s broader range, warranting some caution for aggressive bearish traders. Friday’s better-than-expected US Nonfarm Payrolls (NFP) report lifted market bets for a Federal Reserve […]

Iran, US trade tanker attacks as Tehran will declare ‘prohibited zone’

Iranian government said that it targeted three oil tankers using an unauthorized route through the Strait of Hormuz, as well as a number of US-linked ships, in retaliation for US attacks on Iranian tankers over the weekend, Bloomberg reported on Sunday.  Iran’s top security official Mohsen Rezaee stated that the country would establish a new […]