Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Trading news
Back
3 Jun 2025

WTI Crude Oil extends gains as Canada wildfires, geopolitical tensions, and a broadly weaker US Dollar support prices

  • WTI Crude Oil trades near $63.06, up nearly 2% intraday on Tuesday.
  • Canadian wildfires disrupt 350,000 barrels per day of oil output, fueling supply concerns.
  • The escalating Russia–Ukraine conflict and stalled Iran–US talks are keeping the Oil market tight.

West Texas Intermediate (WTI) Crude Oil prices continue their upward trajectory on Tuesday, marking the second day of gains. At the time of writing, WTI is hovering near Monday's high, trading around $63.06 per barrel, reflecting a nearly 2% increase on the day. The rally reflects a mix of Canadian production disruptions, mounting geopolitical tensions, and a softer US Dollar (USD), all of which are providing a favorable backdrop for Crude bulls.

Wildfires in Alberta have shut down close to 350,000 barrels per day of Oil production, equivalent to around 7% of the province’s total output. While not a massive hit to global supply, the disruption is significant enough to add fuel to the ongoing Oil price rally. The temporary closures, prompted by safety concerns near key Oil Sands sites, come at a time when markets are already on edge over geopolitical tensions.

The ongoing conflict between Russia and Ukraine has intensified with recent drone attacks on Russian airfields, followed by retaliatory strikes on Kyiv. These developments have reignited fears of potential disruptions to Russian Oil infrastructure. On Monday, Russia and Ukraine held their second round of direct peace talks following a sharp escalation in hostilities the previous day, but the discussions ended without significant progress.

Meanwhile, mixed signals from Iran–US nuclear negotiations have also kept market participants on edge. An Iranian diplomat indicated that Tehran is poised to reject a US proposal aimed at resolving the decades-old nuclear standoff. Although the fifth round of talks in Rome last month yielded some progress, the outlook remains uncertain, limiting the potential return of sanctioned Iranian barrels to global markets.

Adding to the bullish tone, a broadly weaker US Dollar is helping to lift commodity prices across the board. A softer Greenback makes US Dollar-denominated assets, such as Crude Oil, more affordable for foreign buyers, thereby increasing demand and further supporting WTI prices in the near term.


Jun 3, 2025

Fed's Goolsbee: We could see a direct tariff effect on prices within a month

Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee fell in step with the Fed policymaker crowd on Tuesday, admitting that while things look good right now, policy uncertainty remains elevated at the hands of President Trump's whiplash tariff policies, and the Fed is beginning to brace f
Read more Previous
Jun 3, 2025

Fed's discount rate meeting minutes: Businesses are preparing staff reductions if costs rise

The Federal Reserve's (Fed) discount rate meeting minutes from April 7, 28, and May 8 revealed that policymakers are increasingly uneasy about looming economic impacts, mostly from US trade policy.
Read more Next