Russia Ukraine conflict

Crude Oil Week Ahead: Crude oil’s 4-year support level has amplified its importance as supply disruption risks rise again amid the Russia-Ukraine conflict. Meanwhile, OPEC’s upcoming meeting on Sunday could reshape production quotas and influence market dynamics.

We knew it was coming, but now it is official. Trump will run for the Whitehouse once more. But perhaps more pressing is today’s emergency NATO meeting.

With oil prices having fallen over 20% from their highs and Russia set to close gap supplies once more, we see the potential for oil to hit bid again.

Part of the reason why the EUR/USD recovered had nothing to do with the euro, but everything to do with the US dollar.

The NBP hiked rates 75bps, as expected, as it tries to fight off inflation from rising commodity prices.

Oil continued higher overnight has EU members agreed on an embargo of Russian oil. Euro pairs are moving higher ahead of today’s CPI report.

The plan will see Russian supply of crude oil phased out within six months and crude products by the end of the year

Natural gas has seen another strong rally, although lower oil prices yesterday saw it falter just beneath a key level of resistance, leaving clues of near-term exhaustion.

A close near current levels would shift the near-term technical bias in favor of the bears, with the next support level to watch coming in around $1870...

It’s debatable as to how important flash PMI’s are ahead of today’s NATO meeting but, as always, any large deviation from expectations usually prompts a market response.

Equity markets were higher overnight as ongoing peace talks provided glimmers of hope the war could wind down.