Oil, Crude, trading

US crude oil futures prices could continue achieving the bearish targets as we expected, bypassing the official price target station of 86.50 to record the lowest level at 85.97. On the technical side, the current movements are witnessing a bullish trend, as a result of the price gaining positive momentum …

Substantial losses dominated gold prices during the previous trading session, within the expected negative outlook, touching the first target that is required to be achieved at 1695, and it is approaching by a few points from the second target 1686, to be satisfied with recording $1688 per ounce. Technically, by …

After several consecutive sessions in which we committed ourselves to neutrality due to conflicting technical signals and trading within a narrow sideways range between 0.9980 and 1.0050, and after several attempts by the euro to consolidate against the dollar, yesterday’s trading witnessed a bearish tendency. We pointed out that breaking …

A document seen by Reuters on Thursday showed that the OPEC + joint technical committee expects a deficit in the oil market in 2023 of 300,000 barrels per day. The committee, which held a meeting on Wednesday, expected demand to fall short of supply by 400,000 barrels per day this …

Gold prices fell briefly below the $1,700 key level on Thursday for the first time in six weeks as major central banks tightened monetary policy to combat inflation, curbing demand for the non-yielding yellow metal. Spot gold fell 0.4 percent to $1,704.70 an ounce by 0917 GMT, after touching $1,699.30 …

The dollar rose broadly on Thursday, September 1st, especially against the yen, as investors geared up to get higher interest rates in the US, while not expecting Japanese rates to move. The dollar hit a 24-year high of 139.69 against the yen in early Asian trade, up 0.5% from yesterday’s …

Oil prices continued declining in Thursday’s trading, with the rise of the dollar and increasing concerns about demand, in addition to the reduction of the joint technical committee of OPEC + its forecast for the excess oil supply during this year. In China, closures will be imposed in the city …

The fall of the safe haven gold continued to head towards $1700 despite the lull in the dollar’s rallies that are still hovering near the 109 levels, but the crazy hikes in the two-year bond yields continue to raise concerns about recession fears. On the other hand, US bonds did …

European shares started September sharply lower, as concerns about sharp increases in interest rates and record inflation rates in the region pushed the STOCK 600 index to its lowest level in seven weeks Thursday 1 September. The European index fell for the fifth consecutive day, falling 0.8% by 0715 GMT. …