The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
As of the preparation of this material on Thursday, prices for West Texas Intermediate (WTI) oil are hovering around $97.22, up 0.34% on the day, which was marked by heightened volatility. This benchmark American crude initially fell to $95.50—such was the market's initial reaction to the talks between US President Donald Trump and Chinese President Xi Jinping. However, shortly after, the quotes recovered and returned to an upward trend.
The price change occurred after White House representatives characterized the meeting between the presidents as "positive," emphasizing discussions aimed at enhancing economic partnership. The leaders agreed that freedom of navigation through the Strait of Hormuz must be ensured, which is particularly important for oil markets given the waterway's strategic significance to global oil trade.
These statements allowed for a slight reduction in the "geopolitical risk premium" that had been built into energy prices in recent weeks. The market cautiously monitored discussions regarding Iran, as it was expected that Trump would insist on the need for pressure on Tehran to achieve a peace agreement and fully restore navigation through the Strait of Hormuz.
Trump also noted that he had "extremely productive and constructive" negotiations with Xi Jinping and invited the Chinese leader to visit the White House on September 24. In turn, Xi Jinping emphasized the importance of stable bilateral relations, calling for a partnership between China and the US rather than confrontation.
Despite this, expectations regarding the global supply continue to provide fundamental support for oil prices. On Wednesday, the International Energy Agency (IEA) reported that this year, the global supply of oil is likely to fall below demand levels due to disruptions caused by the conflict involving Iran in the Middle East. Currently, the agency expects global production to decline by about 3.9 million barrels per day this year, a significant revision from its previous estimate.
From a technical perspective, the oscillators are positive, indicating a bullish market advantage. Oil is trading above key moving averages, confirming the strength of the bulls. Therefore, bears are currently not in play.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
