Oil prices climbed about 2% to a four-month high on expectations that wider U.S. sanctions on Russian oil would force buyers in India and China to seek other suppliers. That put Brent on track for its highest close since August 26 and WTI on track for its highest close since August 12.
The last session saw the Oil gain 0.6% against the Dollar. According to the Stochastic-RSI, we are in an overbought market.
Support: 75.229 | Resistance: 79.399
U.S. inflation data in the coming week could test the nerves of stock investors and further inflame worries about rising Treasury yields and uncertainty over Donald Trump’s policy plans. After back-to-back standout years, the stock market has wobbled out of the gate in 2025, with the benchmark S&P 500 down about 1% so far this year.
IMF will forecast steady global growth and continuing disinflation when it releases an updated World Economic Outlook, IMF Managing director said. With inflation moving closer to the Fed’s target, and data showing a stable labor market, the Fed could afford to wait for more data before undertaking further interest rate cuts.
Oil prices rallied nearly 3% to their highest in three months as traders braced for supply disruptions from the broadest U.S. sanctions package targeting Russian oil and gas revenue. Joe Biden’s administration imposed fresh sanctions targeting Russian oil producers, tankers, intermediaries, traders and ports.
The Oil-Dollar pair skyrocketed 2.9% in the last session. The MACD is giving a positive signal.
Support: 70.298 | Resistance: 80.978
Global stocks fell while U.S. Treasury yields rose after a stronger-than-expected jobs data reinforced expectations that the Federal Reserve will likely keep interest rates elevated for longer than traders were betting on.
Blockchain security firm PeckShield reported that hackers and scammers stole more than $3 billion in crypto-related activities in 2024, a significant increase over that of the previous year. It represents a 15% or $400 million increase over 2023.
The U.S. dollar strengthened for a third straight session as Treasury yields dipped but held at elevated levels on concerns over tariffs under the incoming Trump administration.
