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Oil prices grow amid OPEC+ decision to extend cuts – ING

The oil market had a strong end to 2024 and a strong start to 2025 with ICE Brent trading above $76/bbl in early January, ING’s commodity analysts note.

Middle East physical market gets stronger

“In early December, OPEC+ agreed to a further extension to its supply cuts, leaving the market with a smaller-than-expected surplus for 2025.”

“In addition, broader sanctions against Iran and Russia have seen Asian buyers looking for other Middle Eastern oil grades, leading to a stronger Middle East physical market. There is also uncertainty over the Iranian oil supply once Trump enters office later this month.”

GBP/USD: Next objectives can be located at projections of 1.2220 and 1.2135 – Société Générale

GBP/USD has extended its phase of correction after break below November lows (1.2480), Société Générale’s FX analysts note.
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EUR/USD slides as FOMC minutes signal slowdown in US disinflation trend

EUR/USD moves lower below 1.0300 but stays inside Wednesday’s trading range in Thursday’s European session.
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