Tag Archives: Oil

After several successive sessions of sharp decline, an upward trend returned to control the movements of US crude oil futures yesterday to establish a good support base of around 68.40. Technically, we tend to rise during the day, relying on trading remaining above the support above 68.40, accompanied by the …

US crude oil prices continued to bleed losses amid intense selling within the strong bearish trend, as we expected, touching the awaited second station at 67.75, recording its lowest level at $67.10 per barrel. Technically, we find the 50-day simple moving average supporting chances of continuing the decline, the stability …

Oil prices fell on Wednesday due to a stronger US currency and disappointing data from China, the world’s largest oil importer, raising demand concerns. At 1013 GMT, Brent oil futures for August delivery were down $1.29, or 1.75%, to $72.42 a barrel. West Texas Intermediate crude (WTI) in the United …

In the expected bearish context, US crude oil futures prices incurred significant losses yesterday, surpassing the bearish targets required to be achieved at 71.20, recording its lowest level at $69.07 per barrel. Technically, the 50-day simple moving average supports opportunities to continue the decline, in addition to the stability of …

US crude oil prices attempted to recover by the end of last week’s trading, recording a high of $73.53 per barrel, and tries to rise are still limited after oil failed to stabilize for a long time above the $73.00 level. Technically, we tend to be negative, but with caution, …

In an interview on Dubai TV, Mohammed Hashad, Head of Research and Development at Noor Capital and the member of the US Association of Technical Analysts, commented on the latest developments on the US debt ceiling, following the talks that brought about positive news as the White House and Congress …

Oil price finds some restriction after Republicans and Democrats have agreed on a deal to extend the US government debt ceiling on Sunday. The deal means a default is unlikely and boosts demand prospects in the US. US interest rates are expected to rise further after debt deal and strong …

The dollar fell on Friday, but remained close to the highest level in two months against major currencies, amid expectations that US interest rates will remain high for a longer period. Tension still hangs over the market due to the US debt ceiling negotiations between President Joe Biden and Republican …

US crude oil futures declined, invalidating the positive outlook as we expected, in which we relied on trading stability above 73.40, touching the stop loss order, and recording a low of 71.04. Technically, the current movements are stable below the previously broken support at 71.55, represented by 61.80% Fibonacci correction, …

US data pointed to a resilient economy while progress on US debt ceiling talks remained elusive, helping Treasury yields higher and the US Dollar to score its highest level in over two months. Traders were wary of a possible default in early June while US President Joe Biden and top …