Mixed movements in both directions dominated the prices of US crude oil futures contracts, heading to visit the first target 72.10, recording a high of 72.13, after it managed to breach the main resistance mentioned during the previous report at 71.55. Technically, we are positive depending on the positive impulse …
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Oil prices fell on Wednesday, erasing gains from the previous session, as fears of a global economic slowdown curbing fuel demand outweighed expectations of further supply cuts due to production cuts announced by Saudi Arabia and Russia for August. Brent crude fell 14 cents, or 0.2 percent, to $76.11 a …
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US crude oil futures prices witnessed a cautiously upward trend, recording its highest level during the previous trading session at around $71.32 per barrel. Technically, we are positive depending on the positive impulse coming from the simple moving averages that have returned to hold the price from below, and this …
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Oil prices stabilized on Tuesday, as markets were hit by supply constraints due to planned cuts in August by top oil exporters Saudi Arabia and Russia, in the face of economic data that indicated weak demand for crude. Brent crude futures rose 22 cents, or 0.3 percent, to $74.87 a …
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On a quiet Monday’s trading session, US stocks finished modestly higher on a shortened session. On Tuesday, Wall Street will remain closed due to Independence Day. The low volume could lead to consolidation and/or erratic moves.Economic DataThe US dollar lost momentum on Monday following the release of the ISM Manufacturing …
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WTI crude oil is down 0.55% at $70 per barrel due to global economic slowdown concerns. Despite Saudi Arabia and Russia’s supply cut announcement, concerns over manufacturing activity slowdown worldwide continue to impact WTI prices. At the time of writing WTI is trading at $70.24 per barrel.China’s Caixin PMI expanded …
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Oil prices fell in early Asian trading on Monday, as fears of a global economic slowdown and the possibility of the Federal Reserve raising interest rates were met with expectations of a reduction in supplies in light of the cuts announced by the OPEC + group. Brent crude futures fell …
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Oil prices rose on Friday, and Brent crude is heading for its first monthly increase this year, as a significant decline in US crude oil inventories erased fears that fuel demand would be affected by any new increase in interest rates. Brent crude futures for September delivery were up 16 …
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The WTI crude oil price failed to surpass the 20-day Simple Moving Average (SMA) at $70.29 and stabilized at $69.75. The price was rejected at the SMA, currently positioned at $70.36, and retreated to $69.75 due to weak housing data from the US. The US Bureau of Economic Analysis released …
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A noticeable bullish rebound in the prices of US crude oil futures contracts, after it succeeded in touching the bearish target required to be achieved during the previous report at 67.70, to witness the current movements seeing an upward trend, as oil prices hover around the psychological barrier of $69.00. …
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