Tag Archives: Oil

The price of WTI oil fell as low as $70.65 in the afternoon and then slightly increased to $72.00. This week, WTI might revert to the opening bids because of intricate technical issues and a danger prompted by the Fed’s dovishness. Global oil demand is declining more swiftly than OPEC’s …

Oil prices rose in early Asian trading on Friday and are on track to record their first weekly gains in two months, benefiting from the decline in the dollar and optimistic expectations from the International Energy Agency about oil demand next year. Brent crude futures rose nine cents to $76.70 …

Mixed and predominantly negative trades characterized the movements of US crude oil futures, reaching a low of $67.74 per barrel, with current intraday stability around $69.50. From a technical perspective, the simple moving averages continue to exert downward pressure on the price from above. A closer look at the 4-hour …

The International Energy Agency on Thursday raised its forecast for global oil demand growth next year, despite an expected economic slowdown, citing improving prospects for the United States and declining oil prices. Although the agency, which represents the industrialized countries, raised expectations, there remained a large gap between them and …

Mixed and predominantly negative trades characterized the movements of US crude oil futures, reaching a low of $67.74 per barrel, with current intraday stability around $69.50. From a technical perspective, the simple moving averages continue to exert downward pressure on the price from above. A closer look at the 4-hour …

On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) expressed cautious optimism regarding the fundamental factors influencing the oil market in 2024. OPEC attributed the recent decline in oil prices to “exaggerated concerns” about demand. Despite the recent drop in prices, OPEC maintained its relatively high forecast for oil …

Oil prices continued their descent in Asian trading on Wednesday, extending losses from the previous session where they fell over three percent to their lowest levels in six months. The decline is attributed to concerns about demand and excess supply in the market. As of 0621 GMT, Brent crude futures …

The US crude oil futures contracts experienced a resurgence of negative trades, resuming their downward trajectory after encountering a formidable resistance level around the psychological barrier of 72.00, resulting in significant losses. It’s worth noting that in a previous analysis, we highlighted the importance of a break below 70.50 as …

Oil prices rose on Tuesday after a Houthi attack on a chemical tanker heightened geopolitical tensions in the Middle East, but fears of slowing demand growth and excess supplies undermined gains. A cruise missile launched from Yemen hit a commercial tanker, causing fire and damage, but no casualties. By 0915 …

Oil prices rose on Tuesday as investors remained cautious ahead of important decisions on interest rates and the release of inflation data, but concerns about oversupply and slowing demand growth undermined the gains. By 0342 GMT, Brent crude futures for February delivery rose 26 cents, or 0.3 percent, to $76.29 …