Tag Archives: Oil

In the pulse of the financial world, the spotlight of the past week fell squarely on key US economic indicators, particularly inflation data, igniting a flurry of activity and recalibration across markets. Inflation Insights Headline US inflation for January came in at 3.1%, a modest improvement that fell slightly short …

Support Holds Strong:The support level at 75.50, highlighted in the previous technical report, proved effective in halting the downward momentum of US crude oil futures prices. It is emphasized that the resumption of the downward trend hinges upon breaching this critical support level. Technical Analysis Insights:A closer examination of oil …

US Crude Oil Futures Reach Target Before Facing Resistance US crude oil futures prices surged to achieve the initial upward target as anticipated in the previous technical report, hitting a peak of $78.74 per barrel, surpassing the first milestone at $78.55. Technical Analysis Highlights: During the trading session, oil prices …

US crude oil futures maintained a positive trajectory in the previous technical report, reaching the target price of $78.10 and hitting a high of $78.44 per barrel. Technically, the outlook remains optimistic, with the price receiving consistent support from simple moving averages, contributing to an upward trend. Additionally, positive signals …

In its latest monthly report, OPEC has revised its global economic growth forecasts upward for 2024 and 2025, projecting a more optimistic outlook with expectations set at 2.7% and 2.9% respectively. On the oil front, OPEC maintains a steady outlook for global oil demand growth, with projections holding firm at …

Record Highs and Technical Optimism In the previous trading session, US crude oil futures soared, reaching a peak of $77.08 per barrel. Technically, a positive outlook prevails, supported by consistent movement within an ascending price channel depicted on the 4-hour chart, alongside encouraging signals from the simple moving averages. Preferred …

In early Asian trading on Monday, oil prices saw a slight decline following Israel’s announcement of the cessation of strikes on the southern Gaza Strip, providing some relief from concerns about potential disruptions to supplies from the Middle East. Here’s a closer look at the key developments shaping oil markets: …

In the realm of global markets, oil prices surged in early Friday trading, poised for significant weekly gains against a backdrop of escalating tensions in the Middle East. The region’s geopolitical landscape has been tumultuous, with Israel rejecting a ceasefire proposal from the Palestinian Islamic Resistance Movement (Hamas), further fueling …

Consumer prices in China persisted in their downward trajectory for the fourth consecutive month in January, highlighting the hurdles facing the world’s second-largest economy in its quest for robust recovery. Consumer Price Index Data: Decline Year-on-Year, Modest Uptick Monthly Data released by the National Bureau of Statistics on Thursday revealed …

In the latest trading session, US crude oil futures contracts notched a significant milestone by hitting the initial target set at $74.00, culminating in a peak of $74.24 per barrel. Technical Analysis: Moving Averages and Relative Strength Index Signal Positivity A technical analysis reveals that simple moving averages are exerting …