Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Oil, Crude, trading
Read More »Oil Tends to Fall And All Eyes on Inventories
Oil Losses Exceed 1% Ahead of OPEC Summit
Oil prices declined on Tuesday, after the reopening of the Suez Canal limited concerns about supply flows. In addition, the surge by the U.S. Dollar (USD) weighed on crude prices, ahead of the OPEC+ meetings, which will decide whether major producers will extend their output curbs during May or not. …
Read More »Oil Falling With The Opening of The Suez Canal And Attention Turns to OPEC+ Cuts
Oil prices retreated on Tuesday, March 30th, while navigation in the Suez Canal resumed days after being halted by the stranding of a giant ship, and the focus shifted to an OPEC+ meeting this week, where an extension of supply restrictions is expected to be discussed amid new closures to …
Read More »Oil: Trying to Recover
Oil, Crude, trading
Read More »Oil Closes Higher Ahead of OPEC+ Meetings
Oil prices rose on Monday, recovering from earlier losses, amid concerns about delays in oil shipments even after shipping restarted at the Suez Canal after the container ship that was blocking it was re-floated. In addition, it is expected that the upcoming meeting for the Organization of the Petroleum Exporting …
Read More »Oil Decline as The Stuck Ship Ship Begins Moving in the Suez Canal
Oil fell by more than 2% on Monday, March 29th, after news from the Suez Canal that rescue crews managed to move the giant container ship that has been blocking the vital global trade corridor for nearly a week. Brent crude fell $1.38, equivalent to 2.1%, to $63.19 a barrel. …
Read More »Oil Narrows Most Weekly Losses as Supply Disruptions Balance Demand Concerns
Oil futures rose on Friday, as a stranded ship continues to block the Suez Canal, one of the world’s major trade routes, thus disrupting the flow of large crude supplies. However, crude prices finished the week in losses, amid concerns about the resurgence of the Coronavirus pandemic through a third …
Read More »U.S. Oil Rigs Rise by Six in Week
The number of active rigs drilling for crude oil and natural gas in the United States increased by six this week to 417, data by Baker Hughes showed on Friday. The rig count is now lower by 311 rigs compared with the same time of last year. It is worth …
Read More »Oil Rose Due to Fears That Navigation in The Suez Canal May be Suspended For Weeks
Oil prices rose today by about 2%, to rebound due to fears that the float of a giant, stranded container tanker, impeding the movement of navigation in the Suez Canal, may take weeks, which may put pressure on the supplies of crude and refined products. But prices are still heading …
Read More »Oil: Negative Pressure is in Place
Oil, Crude, trading
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