Tag Archives: Oil

In our recent technical report, we maintained a neutral stance due to conflicting technical signals. We highlighted the pivotal role of breaching the 73.50 resistance level for any upward movement, potentially leading to an increase to 74.40. Consequently, US crude oil futures recorded their highest level at approximately $74.20 per …

US crude oil futures experienced a notable downturn in line with the projected bearish trajectory outlined in the previous technical report. The prices successfully reached both the initial target of 71.20 and the subsequent official target of 70.60, with the lowest recorded level hitting $70.65 per barrel. From a technical …

Major global investment banks have collectively forecasted a slowdown in the growth of China’s economy in 2024 compared to its growth rate in 2023, which fell below market expectations. Here are the growth expectations for China in 2024 from various banks: JPMorgan (NYSE: JPM): Expects China’s growth to slow to …

Mixed trading characterizes the movements of US crude oil futures in the initial trading sessions of the week. After reaching its lowest point at $72.27, the price rebounded to retest the $72.50 level. Technically, a negative bias is evident, supported by the initiation of negative crossover signals from the simple …

Mixed trading characterizes the movements of US crude oil futures in the initial trading sessions of the week. After reaching its lowest point at $72.27, the price rebounded to retest the $72.50 level. Technically, a negative bias is evident, supported by the initiation of negative crossover signals from the simple …

The earnings season kicked off with a slow start, with the KBW Bank stock index experiencing a 3.1% decline and the 10-year Treasury yield dropping from 4.1% to 3.9%. The Magnificent 7 led the rally with a 4.3% gain, while the equal-weighted S&P 500 saw a 0.3% increase. Investors were …

Oil prices experienced a significant spike of over two percent on Friday following joint strikes by the United States and Britain against Houthi military targets in Yemen. The military action was in response to attacks by the Iran-aligned Houthi group on ships in the Red Sea since late last year. …

US crude oil futures exhibited mixed trading in the previous session, eventually returning to an upward trend after finding support around the pivotal level of 71.20. From a technical standpoint, there is a cautious positive outlook. The price is receiving positive signals from the simple moving averages, which have provided …

Oil prices rose in Asian trading as markets assessed the escalating tensions in the Middle East in contrast to the sudden increase in US crude inventories that pushed oil prices down by about 80 cents in the previous session. US West Texas Intermediate crude futures rose 20 cents, or 0.28 …

On Wednesday, oil prices continued their upward trajectory from the previous day, supported by data indicating a more significant-than-expected decline in US crude inventories last week. However, gains were tempered by a larger-than-anticipated increase in gasoline and distillate inventories. Brent crude futures saw an increase of 29 cents, or 0.4 …