Tag Archives: Oil

Crude oil prices were able to finish the trading week with significant gains. WTI rose more than $10 per barrel this week as OPEC+ agreed to slash its production for November by 2 million barrels per day.The November contract WTI prices rose to $92.64 (+4.43%) at the time of writing …

Oil prices rose on Friday and headed for gains for the second week in a row, supported by the decision of OPEC + to make the largest supply cut since 2020, despite concerns about a recession and higher interest rates. The cut decided by the OPEC + cartel, which includes …

Top U.S. senators from both parties on Thursday gave momentum to a bill pressuring OPEC+ after the group announced a deep cut in oil production this week despite lobbying by President Joe Biden’s administration to keep the taps open. The so-called No Oil Producing and Exporting Cartels (NOPEC) bill gained …

Oil prices stabilized on Friday, before the announcement of important US economic data, after rising more than one percent in the previous session, after the decision of the OPEC + group of oil producers regarding production targets. By 0339 GMT, Brent crude futures fell 11 cents to $94.31 a barrel. …

US crude oil futures prices achieved strong gains during the previous session within the expected bullish track during the last analysis, touching the official target at 87.65, and recording the highest level at 88.40. Technically, the daily trend is still bullish, with the simple moving averages supporting the bullish price …

OPEC + decided to cut production by two million barrels per day during the meeting that ended a while ago in Vienna. According to the news, the reduction will take effect next November. Oil prices reversed their downward trend after the OPEC + decision was issued, to start recording increases …

OPEC+ key ministers, known as the joint ministerial monitoring committee, has agreed on oil production cuts of 2 million barrels per day, three OPEC+ sources said according to Reuters.

US crude oil futures prices jumped, achieving noticeable gains as expected, exceeding the official target required to be achieved at 86.30 to record the highest level of $86.95 per barrel. Technically and carefully looking at the 240-minute chart, we find that the 50-day simple moving average continues to hold the …

Markets were generally optimistic for a second consecutive day, leading to a continued dollar selloff after five-day loss streak while other financial assets were not shy to immediately benefit from the softer American dollar.Government bonds kept recovering ground, keeping yields under pressure, which weighed on the US dollar. The EUR/USD …

Oil prices rose on Tuesday amid expectations that the OPEC+ group may agree to a significant cut in crude production when it meets this week. Brent crude futures rose 79 cents, or 0.9 percent, to $89.65 a barrel by 1054 GMT, after gaining more than 4 percent in the previous …