West Texas Intermediate (WTI) prices slid on international markets last night as the U.S. government partially shutdown for the first time in seventeen years. As the Congress debate on the budget ended in a deadlock, the constitution imposed a shutdown of non-essential federal services and agencies until the issue is resolved. The shutdown came at a time when oil prices are already extremely sensitive to political changes across the world. WTI fell 71 cents since yesterday through the night as the market anticipated the shutdown. Figure 1: West Texas Intermediate (WTI) Intraday Trade Price (USD per barrel) As the deadline…
WTI Slips on U.S. Government Shutdown
Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.