Tag Archives: Oil

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 …

As we expected, US crude oil futures prices jumped at the beginning of this week’s trading within the positive outlook, touching the official target of the previous technical report at 93.60, recording the highest level at 93.74. Technically, the stochastic has started to provide negative crossover signals, and this comes …

Strong gains dominated US crude oil futures prices within the expected bullish context, surpassing the required targets at 90.75 and recording the highest level at 92.80. Technically, the simple moving averages support ascending, accompanied by positive signs from the RSI stable above the 50 mid-line. From here and steadily trading …

Mixed trading dominated the futures prices of US crude oil yesterday, trying to maintain the expected bullish context during the previous analysis, in which we relied on stability above the strong support level 88.10 to end its daily trading above the mentioned level, and it is now trading around 88.80. …

The early Asia session witnessed some important news on the oil market which could influence and impact crude oil prices in the following sessions.The US Department of Energy said it sold 15 million barrels of oil from the Strategic Petroleum Reserve in what is mainly described as the last batch …

Oil prices fell on Thursday after the Federal Reserve raised interest rates, which led to the rise of the dollar and increased fears of a global recession that will hurt demand for fuel; however, concerns about supplies limited the decline in prices. By 0750 GMT, Brent crude was down 85 …