Early Wednesday, analysts from the National Australia Bank (NAB) came out with their analysis on oil prices, shared by Reuters. While their initial optimism relies on US President-elect Joe Biden’s $1.9 trillion fiscal stimulus, the International Energy Agency’s (IEA) cut in Q1 global demand by 58,000 barrels a day and Saudi Arabia’s 1 million barrels per day output cut are extra catalysts that put them convey the cautious optimism. The NAB report additionally said, “The risk right now is around coronavirus lockdowns. We’ve seen some countries extending lockdowns.” That said, WTI oil prices currently rise 0.67% intraday to $53.32 amid broad US dollar weakness. Read: WTI Price Analysis: Keeps recovery moves from short-term EMAs to battle $53.00 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD eyes critical $1862 resistance ahead of Biden’s inauguration – Confluence Detector FX Street 2 years Early Wednesday, analysts from the National Australia Bank (NAB) came out with their analysis on oil prices, shared by Reuters. While their initial optimism relies on US President-elect Joe Biden’s $1.9 trillion fiscal stimulus, the International Energy Agency’s (IEA) cut in Q1 global demand by 58,000 barrels a day and Saudi Arabia’s 1 million barrels per day output cut are extra catalysts that put them convey the cautious optimism. The NAB report additionally said, "The risk right now is around coronavirus lockdowns. We've seen some countries extending lockdowns." That said, WTI oil prices currently rise 0.67% intraday to $53.32 amid broad… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
