Summary:
WTI crude jumped nearly $1 a barrel on Thursday to its highest in more than a year as a steep drop in crude stocks in the US added to supply jitters.
WTI crude jumped nearly $1 a barrel on Thursday to its highest in more than a year as a steep drop in crude stocks in the US added to supply jitters.
The benchmark jumped more than 3%, resuming its torrid rally. Brent Crude also closed more than 2.5% higher amid speculation of $100 in the coming months.
US crude stocks fell by 2.2 million barrels last week to 416.3 million barrels, government data showed, far exceeding a drop of 320,000 barrels expected in a Reuters poll.
Russia announced on Thursday that it had temporarily banned exports of gasoline and diesel to all countries outside a circle of four ex-Soviet states with immediate effect in order to stabilise the domestic market.
China's major industrial firms saw their profit rebound strongly in August, surging 17.2 percent from a year earlier, in the latest sign of a sustained recovery in the world's second-largest economy in favour of fuel demand.
Earlier this week, Goldman Sachs said higher oil prices are a ‘manageable’ headwind for the US economy, though the firm lowered its GDP forecast fractionally.
A surge in WTI prices indicates a potential continuation of its prior short-term bullish movement above the 20 MA until we see a retracement below resistance-turned-support around 90.
Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Markets expect no rate change at July's FOMC, but Powell's tone may hint at easing ahead, impacting equities, gold, and the dollar.
2025-07-28
EBC analyses how a stronger economic print, policy recalibration, and unresolved U.S. trade risks are redefining outlooks for Korean assets.
2025-07-28
EBC Financial Group analyses Southeast Asia's tough balancing act as U.S. tariff threats intensify and strategic choices narrow.
2025-07-28
EBC Financial Group is a co-brand shared by a group of entities
including:
EBC Financial Group (SVG) LLC is authorized by the St.Vincent and the
Grenadines Financial Services Authority(SVGFSA),and the company
registration number is 353 LLC 2020, with registered address at Euro
House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the
Grenadines.
Other Relevant Entities
EBC Financial Group (UK) Limited is authorised and regulated by the
Financial Conduct Authority. Reference Number: 927552. Website:www.ebcfin.co.uk
EBC Financial Group (Cayman) Limited is licensed and regulated by the
Cayman Islands Monetary Authority (Number: 2038223). Website:
www.ebcgroup.ky
EBC Financial (MU) Limited is licensed and regulated by the the
Financial Services Commission, Mauritius (License Number GB24203273)
with registrated address at 3rd Floor, Standard Chartered Tower,
Cybercity, Ebene, 72201, Republic of Mauritius. Website for this entity
is maintained separately.
EBC Financial Group (Comoros) Limited is authorised by The Autonomous
Island of Anjouan, Union of Comoros Offshore Finance Authority with
License number L 15637/EFGC, with registered office address at Hamchako,
Mutsamudu, Autonomous Island of Anjouan, Union of Comoros.
EBC Financial Group (Australia) Pty Ltd (ACN: 619 073 237) is authorised
and regulated by the Australian Securities and Investments Commission
(Number: 500991). EBC Financial Group (Australia) Pty Ltd is a related
entity of EBC Financial Group (SVG) LLC. The two entities are managed
separately. The financial products and services offered on this website
are NOT provided by the Australian entity and no recourse against the
Australian entity is available.
EBC Group (Cyprus) Ltd, faciliates payment services to the licensed and
regulated entities within the EBC Financial Group strucutre, registered
under the Companies Law of Republic of Cyprus with the number HE 449205,
registered office address at 101 Gladstonos, Agathangelou Business
Centre, 3032 Limassol, Cyprus.
Business Address: The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB. Email Address :[email protected] . Telephone : +44 20 3376 9662
Disclaimer: EBC Financial Group explicitly does not participate in any cryptocurrency activities or offer Crypto Contracts for Difference (CFDs). Our financial services solely pertain to traditional instruments. Clients are advised that any references to crypto-related services using the EBC name are inaccurate and unauthorized. Any reference to past performance is not indicative of future performance. The information contained in this website is provided for reference only and does not constitute any investment advice.
Regional Restrictions:
EBC does not offer any services to citizens and residents of certain
jurisdictions including: Afghanistan, Belarus, Burma (Myanmar), Canada,
Central African Republic, Congo, Cuba, Democratic Republic of the Congo,
Eritrea, Haiti, Iran, Iraq, Lebanon, Libya, Malaysia, Mali, North Korea
(Democratic People's Republic of Korea), Russia, Somalia, Sudan, South
Sudan, Syria, Ukraine (including Crimea, Donetsk, and Luhansk Regions),
the United States, Venezuela, and Yemen.
Any Spanish on this website is for LATAM only and is not designated for
anyone in European Union or Spain For more information, please check out
our FAQs.
Any Portuguese on this website is for Africa only, and is not designated
for anyone in European Union or Portugal or Brazil. For more
information, please check out our FAQs.
Compliance Disclosure：The website can be accessed globally and is not specific to any entity. Your actual rights and obligations will be determined based on the entity and jurisdiction that you choose to be regulated.There may be local laws and regulations which prohibit or limit your rights to access, download, distribute, disseminate, share or otherwise use any or all of the documents and information published on this website.
Risk Warning: Trading Contracts for Difference (CFDs) are complex financial instruments and come with a high risk of losing money rapidly due to leverage. Trade on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade Forex and CFDs, you should carefully consider your trading objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial trading capital. We recommend that you seek independent advice and ensure you fully understand the risks involved before making any investment decision. Please read the relevant risk disclosure statements carefully before trading.
