Crude Oil (WTI) is pressured following geopolitical conflict | ICM.COM

G7 work on a Russian oil price cap, gold has gained as dovish Fed signals spread through the market

Traders will be looking for a fresh direction when Crude Oil Inventories data is released on Wednesday

WTI fell from Monday's high of around $111.90 and is trading at $109.46 in the Asian session as of writing. Oil prices are under downward pressure following EU's proposed ban on Russian oil which looks to be unconvincing. In the meantime, Russian oil continues to be exported, though the risk of price increase still remains. Traders will be looking for a fresh direction when Crude Oil Inventories data is released on Wednesday, and another meeting is scheduled next week by the bloc's leaders to further discuss the situation.

Source: https://www.fxstreet.com/news/wti-bears-in-control-as-eus-proposed-ban-on-russian-oil-looks-unlikely-202205240200

Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM

Follow FXMAG.COM on Google News

G7 work on a Russian oil price cap, gold has gained as dovish Fed signals spread through the market

ICM.COM Market Updates

ICM.com is a UK-based, global, multi-regulated broker, and financial services provider, providing online foreign exchange (FOREX) and Contract for Difference (CFDs) trading solutions as well providing access to most of the world’s stock exchanges via its ICM Securities platform.

ICM’s aim is to provide a safe online trading environment and comprehensive support to all its customers with no compromise on speed, performance, variety of instruments, or price.

The company provides one of the highest levels of insurance in the industry. Client funds are secured in segregated accounts with tier 1 banks and they offer a variety of ways to ensure your funds are always easily accessible. They also have a Civil Liability Insurance Programme that covers up to £5 million.

ICM.com have over 5,000+ products available including currencies (FOREX), Indices, Commodities, precious metals, futures, and cryptocurrencies making them a one-stop-shop for all your trading needs. Its products can be traded via the MetaTrader 4, MetaTrader 5, or cTrader platforms. The company also provides access to all the major stock exchanges globally via its ICM Securities platform.