Looking ahead, though a tight supply outlook offers support to oil prices in the immediate run, other catalysts like worries over the global growth outlook and a firm US currency likely to halt major gains. On the price side, US WTI crude has stiff resistance at $94 a barrel which needs to be cleared for further rallies. Otherwise, there are chances of a choppy with mild negative bias trading on the cards.
Asian stocks weaken as Fed policy doubts simmer
Japanese and Australian shares fell. South Korea’s benchmark bucked the trend, led by Samsung Electronics Co.’s rally after it announced a stock buyback plan. US
November 18, 2024