On January 31st, oil prices fell in the US session, and the market is waiting to see if US President Trump will follow through on his promise to impose tariffs on Mexico and Canada on Saturday. PVM analyst Tamas Varga said that oil prices are pressured by the potential negative economic impact of the US tariffs on Canada and Mexico, adding that the tariffs could lead to a rise in the dollar, which in turn weighs on oil prices. Canada and Mexico are the two countries that export the most crude oi...
The Bank of Canada has announced the cancellation of interest rate guidance, and the threat of tariffs is imminent.
Futures prices point to an imminent oversupply in the oil market, but active cash market buyers briefly supported prices; the short-term energy outlook sees crude oil inventories increasing in 25 years, putting long-term downward pressure on oil prices > >
IntoTheBlock posted on social media that miners have increased their holdings of 4,500 BTC so far in July, worth $300 million.