Tag Archives: Oil

US crude oil futures prices were able to touch the first bullish target at 82.30, recording its highest level at the end of last week’s trading at 82.45, which formed a strong resistance level that forced oil to trade significantly to be able to break the support floor of 80.20, …

The US Dollar Index began the trading week down around the 102 mark, hovering close to levels not seen since May 2022, as concerns about a US recession and prospects of a less aggressive Fed startled investors away from the American currency which closed the week at 101.9.Oil Price ActionOn …

Oil prices steady lower on Friday, marking weekly flat performance to the downside amid indications of stronger Russian oil supply counterbalancing the better-than-expected rate of US economy’s growth in light of Friday’s PCE data, strong middle distillate refining margins and hopes of a quicker recovery of China’s demand levels.WTI crude …

Crude Gains On Signs Of Stronger Global Energy DemandCrude oil and gasoline prices on Thursday are moderately higher. Better-than-expected US economic data shows the US economy’s strength that is bullish for energy demand and fuel prices. There are also signs of strength in Chinese travel and consumer spending during the …

US crude oil futures prices achieved the first bearish target referred to in the previous analysis at 79.40, to start a bullish rebound due to touching the support 79.40 represented in the first target, to witness the current movements stabilizing above the barrier of $80.00 per barrel. Technically, the 50-day …

Strong resistance around 82.20, which formed a strong obstacle in front of US crude oil futures prices, contradicting the positive outlook as we expected, in which we relied on the stability of daily trading above 81.00, explaining that the return of trading stability below 81.00 is capable of postponing the …

Positive movements dominated the prices of US crude oil futures contracts within the expected bullish track yesterday, touching the first bullish target to be achieved during the last report at 82.10, and approaching a few points away from the main target of 82.80, only to record its highest level at …

Mixed movements dominated the prices of US crude oil futures contracts, but trading tended to be positive to succeed in recording good gains, touching the level of $81.86 per barrel. Technically, by looking closely at the 4-hour chart, we find that oil prices continue to get a positive impulse from …

According to the International Energy Agency, lifting COVID-19 restrictions in China is expected to increase global oil demand to a record high this year.WTI crude oil futures edged higher on Friday, putting the market in a position to post a second straight weekly gain. The catalysts triggering this price action …

Significant gains were achieved by US crude oil futures prices within the positive outlook, as we expected yesterday, touching the first target of 81.70, and recording a high of 82.35. Technically, oil prices collided with a strong resistance level of 82.40, which forced it to trade with strong negativity, so …