The near-term recovery in crude appears to be sputtering ahead of September-high ($52.83), with oil prices at risk of facing range-bound conditions.
In this webinar, we discussed the technical outlook for several major commodities and equity indices.
Crude Oil recovered nicely to end the week and is moving higher in alignment with base metals as global demand appears to be on the rise.
Crude oil prices may rise if US President Trump signals a move away from an Obama-era deal with Iran exchanging sanctions relief for nuclear capability reduction.
The advance in the US Dollar since early September against its Canadian counterpart has run out of steam but could well resume as NAFTA negotiations stall and oil prices slip.