Oil prices rose in early trading on Tuesday, supported by a weaker dollar and the United States’ plan to rebuild its strategic reserves, but gains were limited by uncertainty over the impact of rising COVID-19 cases in China, the world’s largest oil importer. Brent crude futures rose 61 cents, or …
Read More »Oil rises but recession fears limit gains
Oil prices surged on Monday on optimistic expectations and hopes for China’s economy after news speaking about relaxing COVID-19 restrictions. But, fears of a global recession would weigh on energy demand and therefore oil’s gains are limited.China is experiencing its first of three expected waves of COVID-19 cases after Beijing …
Read More »Oil edges lower on QT decisions, global recession concerns
Crude prices edged lower on accelerating fears linked to global recession risks after another wave of central banks’ decisions regarding quantitative tightening. This is why oil’s latest rally faded as risk aversion grows wilder.The stronger US dollar makes oil more expensive for those using other currencies. Oil prices slid about …
Read More »Oil needs extra momentum 15/12/2022
US crude oil futures prices achieved the bullish target that should be touched during the previous report at 77.40, recording a high of 77.72. Technically, by looking at the 240-minute chart, we find that the simple moving averages are still holding the price from below, and support the possibility of …
Read More »Oil touches the target and needs additional momentum 14/12/2022
crude oil futures prices achived strong gains within the expected bullish path during the previous analysis, touching the retest target 75.30, surpassing the required target, and recording a high of 76.35. On the technical side today, and with a closer look at the 4-hour chart, we find that stochastic started …
Read More »Oil: trying positively 13/12/2022
US crude oil futures prices jumped to achieve the required intraday rise during the previous analysis within retesting 72.50, to reverse the expected bearish trend yesterday, recording a high of 74.20 during the early trading of the current session. On the technical side today, the simple moving averages are still …
Read More »Noor Capital | Interview with Muhammad Hashad on Dubai TV – 12/12/2022
In an interview on Dubai TV, Monday, Mohamed Hashad, Head of Research and Development at Noor Capital and member of the American Association of Technical Analysts, commented on the most important developments in global financial markets on the first day of trading during this week, most notably the Federal Reserve’s …
Read More »Oil: negative pressure continues 12/12/2022
The prices of US crude oil futures contracts declined significantly by the end of last week’s trading within the expected downward path, touching the official target of the last report, which is at 70.30, recording its lowest level at $70.30 per barrel. Technically, by looking at the 4-hour chart, we …
Read More »Putin: Won’t sell oil to nations adopting price caps
The Russian President Vladimir Putin said on Friday that Russia will not sustain losses from oil price caps. Putin noted that “if consumer defines oil prices, this will lead to a collapse of the oil industry”, adding that this will lead to rising prices, this proposal is stupid.Crude oil prices …
Read More »Oil: mixed trades require watching closely 9/12/2022
Mixed trading dominated the price movements of US crude oil futures without a clear real direction, recording a low of 71.14 after recording a high of $75.41 per barrel. Technically, by looking at the 4-hour chart, we find that the simple moving averages continue the negative pressure on the price …
Read More »