Crude Oil Insights: US Dollar spikes as China raises interest rates

Dollar spikes and commodities tumble as China raises interest rates China increased its interest rates for the first time since 2007, aimed at curbing the rising inflation rate. The effect of this has been a sudden change in the market. The move helped in supporting the weak USD. At 0402 GMT, USD was trading at…Read moreRead more

Crude oil price outlook: The rate hike heard around the world! PBOC hikes interest rates by 25 basis points

The Chinese central bank (PBOC) raised interest rates for the first time in three years in a surprise moved that rocked commodity and currency markets. The US dollar retained its status as a safe haven currency as traders unwound trades and headed for cash and treasury securities. Commodity prices fell across the board with Crude…Read moreRead more

Crude Oil Insights: Oil and Gold move up as USD weakens again

Oil and Gold move up as USD weakens again Monday’s trading brought about some surprises. We had seen on Friday that the USD was showing signs of recovery and the crude oil and gold prices were going down. On Monday, WTI crude oil futures closed at $83.08/barrel which is an increase of $1.83 from its…Read moreRead more