Oil Price Forecast: WTI and Brent Biased Higher as Supply Fears Remain at the Fore

Oil Price Forecast: WTI and Brent Biased Higher as Supply Fears Remain at the Fore https://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2022/05/01/Oil-Price-Forecast-WTI-and-Brent-Biased-Higher-as-Supply-Fears-Remain-at-the-Fore.html Oil is likely to remain supported in the short term amid expectations Europe will soon announce a plan to ban Russian oil imports and bets that the JCPOA nuclear deal will not be reinstated soon.

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DailyFX - Market News FX

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The Japanese Yen (JPY) attracts some dip-buying at the start of a new week and remains close to its highest level since November 14, touched against a weaker US Dollar (USD) on Friday.

USD/CAD holds onto Friday’s losses around 1.3800, investors await Fed-BoC policy 8 December 2025

The USD/CAD pair trades weakly near its 11-week low around 1.3800 during the Asian trading session on Monday.

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China's Trade Balance for November, in Chinese Yuan (CNY) terms, arrived at CNY792.57 billion, widening from the previous figure of CNY640.40 billion.

China Trade Balance USD came in at $111.68B, above expectations ($100.2B) in November 8 December 2025

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China Trade Balance CNY rose from previous 640.4B to 792.57B in November

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China Exports (YoY) came in at 5.7%, above forecasts (3.8%) in November

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West Texas Intermediate (WTI) US Crude Oil prices struggle to capitalize on a three-week-old uptrend and oscillate in a narrow band during the Asian session on Monday.

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Oil Price Forecast: WTI and Brent Biased Higher as Supply Fears Remain at the Fore

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