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Remains Above The 50-Day EMA


Resumes Its Downtrend


Corrective Cycle Still In Play

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US President Joe Biden, speaking at his March jobs report presser, has stated that over 30 countries have agreed to release 'tens of millions of barrels of oil' at an extraordinary meeting this morning.

  • The International Energy Agency meeting concluded a short while ago. Japan's Energy Minister suggested that the precise timings and volumes of the oil release will be agreed within a week.
  • Biden says that the IEA meeting is a demonstration of the coordinated international response to the Russian invasion of Ukraine.
  • Biden also says that the US is on track to reduce the deficit by USD$1.3 trillion this year, which Biden touts as 'the largest deficit reduction in US history.'
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