The Head of Investment Research at FX Primus Marshall Gittler explains why expectations count the most in determining the price in oil.
Major oil producers are unstable countries and this geopolitical factor is the most influencer in terms of oil prices.
Watch the full webinar: Introduction to oil: Background to the market and outlook for the price
Author
Marshall Gittler
Trading Analysis
The cryptocurrency market trades under intense headwinds on Wednesday, led by Bitcoin’s (BTC) deepening sell-off below $60,000. The Crypto King hovers above $58,000.
PI is holding steady around $0.1150 on Wednesday, stabilizing after three consecutive days of losses of around 10%. Pi remains under pressure, with more than 76 million tokens scheduled for unlocking in June, potentially accelerating the bearish trend.
Bitcoin stabilizes around $59,000 after falling to a 21-month low of $57,800 on Wednesday. Geopolitical uncertainty remains elevated after Iran ruled out talks with US envoys, clouding prospects for a peace agreement and keeping risk sentiment fragile.
Jupiter is up 6% on Wednesday, crossing above its 200-day EMA at $0.2192. Network data shows a spike in monthly revenue and fees in June to a three-month high.
Bitcoin has remained under pressure this past week, losing over 5% as traders assess mixed signals from different parties involved in the Middle East conflict.
