Tag Archives: Oil

A survey revealed that signs of a slowdown appeared in the British economy this month, and that inflation pressures remain high. The survey was published a day after the Bank of England raised interest rates sharply and said it was ready to do more to curb inflation. An initial reading …

US crude oil futures prices incurred large losses, invalidating the positive outlook of the previous report, in which we relied on trading stability above 71.55 when the report was issued. As a reminder, we indicated that the closing of the 4-hour candle below 71.50, and most importantly 71.20, invalidates the …

We adhered to intraday neutrality during the last report due to conflicting technical signals, explaining that the price’s consolidation above the primary resistance of the current trading levels located at 71.55 is leading oil to record gains, starting at 72.60, to succeed in touching the target, recording its highest level …

Mixed trading in both directions dominated the prices of US crude oil futures contracts, nullifying the negative outlook as we expected, in which we relied on stable trading below the level of 71.55, recording its highest level at $72.33 per barrel. Technically, the current movements of oil prices are witnessing …

Oil prices fell on Tuesday after China cut its benchmark lending rates less than expected, raising further concerns about the outlook for oil demand in the world’s largest crude importer. Brent crude fell five cents to $76.04 a barrel at 0310 GMT. US West Texas Intermediate crude for July delivery …

Mixed trading dominated the prices of US crude oil futures contracts yesterday, within a negative path, and the intraday oil movements are still stable below the resistance level of 71.55. Technically, the 50-day simple moving average pushes the price to the upside. On the other hand, negative features still dominate …

Global oil prices fell on Monday, reversing gains made last week, as doubts about China’s economy overshadowed OPEC+ production cuts and the reduction in the number of oil and gas rigs operating in the United States for the seventh consecutive week. Brent crude fell 68 cents to trade at $75.93 …

The macroeconomics situation of the US has generally improved better than anticipated and is likely to improve further. This is expected to reduce upward support on the dollar’s value.Although the June FOMC meeting gave the impression that hawkish policymakers were taking a break by raising the terminal rate for this …

Oil rose on Friday and posted a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices. Brent crude gained 94 cents to settle at $76.61 a barrel, while US West Texas Intermediate (WTI) crude rose $1.16 to $71.78. Brent posted a weekly gain of 2.4% and WTI …

Oil prices are heading to record a weekly rise on Friday, after incurring losses for two consecutive weeks, amid optimism about the rise in energy demand in China, the largest importer of crude, and the weakness of the dollar. By 0632 GMT, Brent crude futures rose 20 cents, or 0.3 …