Tag Archives: Oil

In early Asian trading on Monday, oil prices saw a slight decline following Israel’s announcement of the cessation of strikes on the southern Gaza Strip, providing some relief from concerns about potential disruptions to supplies from the Middle East. Here’s a closer look at the key developments shaping oil markets: …

In the realm of global markets, oil prices surged in early Friday trading, poised for significant weekly gains against a backdrop of escalating tensions in the Middle East. The region’s geopolitical landscape has been tumultuous, with Israel rejecting a ceasefire proposal from the Palestinian Islamic Resistance Movement (Hamas), further fueling …

Consumer prices in China persisted in their downward trajectory for the fourth consecutive month in January, highlighting the hurdles facing the world’s second-largest economy in its quest for robust recovery. Consumer Price Index Data: Decline Year-on-Year, Modest Uptick Monthly Data released by the National Bureau of Statistics on Thursday revealed …

In the latest trading session, US crude oil futures contracts notched a significant milestone by hitting the initial target set at $74.00, culminating in a peak of $74.24 per barrel. Technical Analysis: Moving Averages and Relative Strength Index Signal Positivity A technical analysis reveals that simple moving averages are exerting …

EIA Raises Forecast for Global Oil Demand Growth In a recent statement, the US Energy Administration (EIA) announced a revised forecast for global crude oil demand, indicating an increase in growth projections for both 2024 and 2025. According to the statement released on Tuesday, the EIA anticipates a growth of …

Steady US Production Forecasts Boost Oil Market Confidence Oil prices saw a modest uptick on Wednesday, fueled by optimistic projections regarding the stability of US oil production growth over the coming years. This positive outlook has helped alleviate concerns surrounding potential oversupply in the market, providing some relief to investors …

US Crude Oil Futures Surge, Meeting Expected Targets The anticipated upward trajectory in US crude oil futures contracts materialized as forecasted, with prices reaching and surpassing the initial target outlined in our previous technical analysis, touching $73.60 and soaring to a peak of $73.78 per barrel. Technical Analysis: Positive Signals …

China’s imports of major commodities have made a strong start to the new year. However, caution is needed due to the potential influence of the Lunar New Year holidays, which fall entirely in February this year. This could have boosted imports of crude oil, liquefied natural gas (LNG), thermal coal, …

Analysis of Market Movements and Technical Indicators US crude oil futures contracts experienced mixed trading dynamics during the previous session, oscillating between upward and downward movements. The price fluctuated within a range, reaching its lowest point at $71.43 and concluding daily trading at approximately $72.74 per barrel. Market Dynamics Mixed …

Oil prices climbed by nearly a dollar per barrel on Monday, on concerns that Middle Eastern tensions and Russia’s escalating invasion of Ukraine could limit world supplies.Brent crude prices closed at $78.22 per barrel, up 66 cents (0.9%), while US West Texas Intermediate crude futures settled at $72.78 per barrel, …