Tag Archives: Oil

The first interest rate cut in the USA is now expected in July 2024, pushed out from the June rate cut priced in before. The Fed’s updated economic outlook shows that the US economy has held up better than expected, with a modest cooling to 1.5% annual growth in 2024 …

Mixed trading dominated the prices of US crude oil futures contracts, moving in both upward and downward directions, approaching by a few points the first target published in the previous technical report, 88.20, recording its highest level of 88.40. Technically, by looking at the 4-hour chart, oil has achieved some …

Negative trades dominated the prices of US crude oil futures contracts during the previous trading session within a bearish context, gradually approaching the first target to be achieved at the price of 88.55, only to record its lowest level at $88.90 per barrel. Technically, with a closer look at the …

Oil prices fell, becoming further away from their highest levels in ten months on Wednesday, ahead of the announcement of the Federal Reserve’s decision on the interest rate, amid a state of uncertainty among investors about when interest rates will reach their peak and the extent of this impact on …

US crude oil futures prices reflected the expected bullish trend during the previous report, touching the stop loss order published at 91.30. As a reminder, we indicated that breaking the aforementioned level postpones the proposed bullish scenario, and we may witness a simple bearish correction aimed at retesting 90.20, recording …

US crude oil futures prices rose within the expected positive outlook, achieving gains towards the first expected target of 92.20, recording its highest level of $92.50 per barrel. Technically, we tend to be positive in our trading, relying on the price continuing to receive a positive stimulus from the simple …

Oil prices rose on Monday, supported by expectations of a widening supply deficit in the fourth quarter of the year after Saudi Arabia and Russia extended production cuts, in addition to optimism about the recovery of demand in China, the largest global importer of crude. By 0027 GMT, Brent crude …

Noticeable gains continue to control the prices of US crude oil futures contracts within the bullish context expected during the previous technical report, touching the target to be achieved at the price of 91.20, recording its highest level of $81.54 per barrel. Technically, with the regularity of work within the …

Oil is heading for gains for the third week in a row, as the scarcity of supply resulting mainly from Saudi Arabia’s reduction in production coincides with optimism that the Chinese economy is finally beyond the stage of danger. By 1149 GMT, Brent crude rose 37 cents to $94.07 a …

US crude oil prices presented a positive trading session within the positive technical outlook, approaching by a few points from the first bullish target to be achieved at 89.80, only to record its highest level of $89.60 per barrel. Technically, we find oil prices stable above 88.00, supported by the …