Halten Sie die globalen Märkte in Ihren Händen

Unsere mobile Trading-App ist mit den meisten smarten Geräten kompatibel. Laden Sie die App jetzt herunter und beginnen Sie, mit PU Prime auf jedem Gerät, jederzeit und überall zu traden.

  • Market Insights  >  Weekly Outlook

24 March 2022,07:28

Weekly Outlook

Crude Surges Amid Lower-than-expected EIA Inventories

24 March 2022, 07:28

Share on:
Share on:

On Wednesday evening March 23 (GMT+3), the US Energy Information Administration (EIA) reported a decrease of 2.508 million barrels in its crude oil inventories for the week of 18 March. This is in contrast to the forecasted increase of 0.114m barrels, and the previous increase of 4.345M.

Meanwhile, a disruption in the Caspian Pipeline Consortium (CPC) pipeline, which carries oil from Kazakhstan to Russia, has initiated further concerns about the crude supplies. The pipeline carries roughly 1.2m barrels of Kazakh crude oil per day, accounting for 1.2% of the global demand.

In addition to bullish US inventory figures and the CPC pipeline disruption, stagnating developments in the Russia-Ukraine conflict have sent the price of oil soaring back up.


At the news, crude jumped over 5% to over US$121 on early Thursday (GMT+3), with Brent futures up 5.3% to US$121.60 and WTI futures up 5% to US$114.93. This increase has brought the price of oil back up from a cooling seen earlier in the week when the outlook on the Russia-Ukraine conflict was more positive.

While the US and Canada have both said they would ban exports from Russia, much of the EU is still reliant on Russian energy, since it buys almost half of what Russia exports. According to data collected by Turkish news agency Anadolu, the EU has paid Russia nearly US$19 billion since the start of the Russia-Ukraine war. In a more recent comment, Moscow has also said that it plans to make certain countries buy Russian natural gas with rubles, in an attempt to buoy its failing currency.

Said Andrew Lipow, president of Lipow Oil Associates in Houston, “until the world can figure out how to replace [Russian] oil we’re going to march on higher until demand destruction takes place”.

As increasing energy prices further stoke worries about inflation, the price of gold has risen, with spot gold jumping over 1% on Wednesday, hitting a high last seen on March 17.

”Investor demand was also boosted by higher energy prices, which will put further pressure on inflation. Adding to the positive backdrop was a fall in US bond yields. Bonds have been selling off amid hawkish comments from the Federal Reserve,” analysts at ANZ Bank said.

Fed chair Jerome Powell’s hawkish comments earlier in the week about inflation that is “much too high” have seen analysts factoring in 50-point hikes during the Fed’s May and June meetings.

According to a report from senior commodity strategist Mike McGlone at Bloomberg Intelligence, “The foundation that launched [gold] to the 2011 peak around $1,920 from about $250 an ounce in 1999 was laid under similar conditions as now: reversion of an overextended stock market facing Fed rate hikes”.

For now, market participants are advised to keep an eye out for the upcoming Initial Jobless Claims data, which will be released on 24 March at 15:30 (GMT+3). As a friendly reminder, do keep an eye on market changes, control your positions, and manage your risk well.

Starten Sie mit einem Vorteil in das Trading

Traden Sie Forex, Indizes, Metalle und mehr zu branchenweit niedrigen Spreads und mit blitzschneller Ausführung.

  • Beginnen Sie mit Einzahlungen ab nur $ 50 auf unsere Standardkonten mit dem Trading.
  • Erhalten Sie Zugang zum 24/7-Support.
  • Sie haben Zugang zu Hunderten von Instrumenten, kostenlosen Schulungsmaterialien und einigen der besten Promotionen, die es gibt.
Jetzt registrieren

Latest Posts

Schnelle und einfache Kontoeröffnung

Live-Konto erstellen
  • 1

    Registrieren Sie sich

    Registrieren Sie sich für ein PU Prime Live-Konto mit unserem unkomplizierten Verfahren

  • 2

    Zahlen Sie Geld ein

    Zahlen Sie bequem über verschiedene Kanäle und in verschiedenen Währungen auf Ihr Konto ein

  • 3

    Beginnen Sie mit dem Trading

    Erhalten Sie Zugang zu Hunderten von Instrumenten zu marktführenden Tradingbedingungen

Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.

Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.

By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.

Thank You for Your Acknowledgement!

Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.

Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.

Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.

Thank You for Your Acknowledgement!