Rupee drops below the crucial resistance level due to global unrest; 83.50 levels are expected for the USDINR pair.

Amidst a strong dollar, an increase in US Treasury yields, and risk aversion in the global markets, the rupee declined sharply in the previous week, breaking through the significant resistance level of 83.00. The US economy was shown to be resilient by a deluge of strong economic data, which gave the dollar and yields a…

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Following a significant decline in U.S. crude supplies, oil prices increased by more than 1%

After industry data revealed a significantly steeper-than-expected draw in crude oil stocks last week in the U.S., the largest fuel consumer in the world, oil prices climbed more than 1% on Wednesday, trading close to their highest level since April. While U.S. West Texas Intermediate crude increased by 84 cents, or 1.03%, to $82.21 per…

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Crude oil prices have decreased due to OPEC+ talks being uncertain and problems with the US debt accord

Yesterday, crude oil fell by -4.64% to trade at 5756 as worries about the U.S. debt ceiling agreement dampened the market’s risk-on mood and conflicting signals from key producers muddied the supply outlook ahead of their meeting this weekend. Last week, Saudi Arabia’s Energy Minister Abdulaziz bin Salman cautioned short-sellers who were wagering that oil…

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Despite rate increases and OPEC+ talks, crude oil prices rise as a result of the US debt settlement.

Oil prices increased on Tuesday amid expectations that the world’s largest oil consumer, the United States, will increase demand as a result of the debt ceiling agreement. Gains were restrained, however, by worries about future interest rate increases and the potential for OPEC+ to maintain current output quotas. Today morning, Brent crude futures had increased…

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Crude oil prices remain stable following a surprising increase in U.S. crude stocks

Early trading on Wednesday showed little movement in oil prices as industry data revealed an unexpected increase in U.S. crude and petrol inventories, allaying concerns about a supply shortage prior to OPEC producers cutting their output. U.S. oil futures have shifted into backwardation, with the front-month contract trading 6 cents higher than the second month,…

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