Tag Archives: Oil

The top decision-making body of China’s ruling Communist Party said the country’s fiscal policy “should be moderately strengthened” to stimulate economic recovery, the state-run Xinhua news agency reported. The Politburo meeting held on Friday, chaired by Chinese President Xi Jinping, analyzed the economic work to be undertaken in 2024. The …

Mixed trading characterized the US crude oil futures contracts in the previous session, ultimately registering a low at $68.83 per barrel. From a technical standpoint, the $68.80 level effectively mitigated the bearish inclination, prompting a rebound in oil prices. Presently, movements exhibit stability above the psychological barrier of $70.00. A …

Customs data showed on Thursday that China’s crude oil imports in November fell 9.2 percent year-on-year, the first annual decline since April as high inventory levels, weak economic indicators and a slowdown in orders from independent refineries weakened demand. According to the General Customs Administration, the total imported crude oil …

US crude oil futures prices incurred significant losses yesterday within the expected negative outlook during the previous technical report, touching the targets to be achieved at 70.70, recording its lowest level at $69.13 per barrel. Technically, by looking at the 240-minute time frame chart, we notice continued negative pressure coming …

Oil prices varied in Asian trading on Wednesday, after recording losses over four sessions, as markets evaluated the effectiveness of OPEC+ production cuts and concerns about the deteriorating demand prospects in China. By 0438 GMT, Brent crude futures rose one cent to $77.21 per barrel. US West Texas Intermediate crude …

In line with our expectations, the futures contracts for American crude oil experienced a downward trajectory, successfully reaching the initial target of $72.60 and hitting the designated station at $72.15. The lowest point was recorded at $72.00 per barrel. A meticulous examination of the 4-hour chart reveals that the price …

The US Crude Oil benchmark, WTI, has extended its losses for four consecutive days due to factors such as the Greenback’s recovery and demand concerns countering supply worries. The benchmark is trading at $72.72 per barrel, down 0.41%. In the latest OPEC+ meeting, members agreed to output cuts of 2.2 …

Oil prices witnessed little change on Tuesday amid uncertainty over the OPEC+ alliance’s voluntary production cuts, continued tension in the Middle East, and weak economic data from the United States. By 0402 GMT, Brent oil futures fell one cent to $78.02 a barrel, while US West Texas Intermediate crude futures …

Negative dynamics prevailed in the prices of US crude oil futures contracts during the previous session, aligning with the anticipated bearish outlook outlined in the prior technical report. The market reached the initial target of $74.10 and neared, within a few points, the official station of $72.35, marking its lowest …

Oil prices fell on Monday due to traders’ wait-and-see attitude towards OPEC and its allies’ plans to cut production in the first quarter of 2024. Fears of a drop in demand also put pressure on prices. Brent crude futures settled down 85 cents or 1.08% at $78.03 a barrel, while …