Tag Archives: Oil

Oil prices hovered near a two-month low on Monday as supply concerns eased while worries about fuel demand in China and rising interest rates overshadowed prices. Brent crude futures for January fell 28 cents, or 0.3 percent, to $87.34 a barrel by 0103 GMT, after settling at their lowest since …

Oil dropped by about 2% on Friday, logging a second weekly decline, due to concern about weakened demand in China and further increases to US interest rates. Brent crude settled at $87.62 a barrel, falling $2.16, or 2.4%. U.S. West Texas Intermediate (WTI) crude settled at $80.08 a barrel, losing …

Oil prices rose Friday, November 18, with the decline of the dollar, but they are heading towards incurring weekly losses due to expectations that the pace of the sharp rise in US interest rates will not ease, as well as expectations of weak demand from China, the largest importer of …

As we expected, US crude oil futures prices incurred significant losses during the last session’s trading within the negative outlook, surpassing the official target station at 82.10, recording its lowest price at $81.42 per barrel. Technically, oil confirmed breaking the support level of 82.00, and the current movements are witnessing …

The bearish trend has regained control over the movements of US crude oil futures prices within the bearish technical path, as we expected, approaching by a few pips from the official target of 84.00, recording its lowest level at 84.221. Technically, with the continuation of the negative pressure coming from …

On Wednesday, oil prices settled more than one US dollar lower after Russian oil shipments via the Druzhba pipeline to Hungary resumed operation and rising COVID-19 cases in China weighed on investors’ sentiment.Contracts to deliver West Texas Intermediate crude in December closed at their lowest price since October 25, according …

Mixed trading dominated the prices of US crude oil futures contracts during the previous trading session, recording its highest level of $88.65 per barrel. Technically, the 4-hour chart shows that oil failed to cross upwards and rise above the ascending channel line. The bearish slope stimulates the negative pressure from …

US crude oil futures prices managed to achieve the first target mentioned during the previous analysis at 89.65, recording the highest level at 89.82, to find a strong resistance level that forced it to trade negatively during the middle of the American session yesterday. Technically, the simple moving averages started …

US crude oil futures prices witnessed a bullish tendency at the end of last Friday’s trading to temporarily reverse the bearish trend, recording its highest level around $90.00 per barrel. Technically, oil prices are currently hovering around the 50-day simple moving average that is trying to push the price to …

Negative trading returned to control the movements of US crude oil futures prices, with the increase in crude oil inventories, as indicated by the report issued by the International Energy Agency last Wednesday, recording its lowest level yesterday at $84.74 per barrel. Technically, by looking at the 4-hour chart, we …