Tag Archives: WTI

Prior to settling around $85.50, WTI reached the support level of $85.32. Investors are still assessing the Friday-released August US NFPs. OPEC expected that its voluntary production caps would remain in place. The WTI crude barrel traded neutrally in the $85.50-$86.00 band, close to multi-month highs, thanks to the falling …

Gold rose for the third consecutive day, encountering resistance below $1,950. Lower yields and a weaker Dollar provided support for the precious metal. Silver reversed after reaching $25.00 and closed marginally lower at $24.60.The US Dollar Index fell for the third consecutive day, reaching the lowest close in two weeks, …

The WTI crude oil is climbing to $79.05 per barrel, up 0.20%, at the time of writing, as hawkish signals by Fed officials initially dent but later fail to suppress oil prices.Iran announces plans to ramp up crude oil production to 3.4 million bpd by the end of September. The …

As a result of waning worldwide economic activity, as shown by the S&P worldwide PMIs, WTI crude oil declined to $77.68 per barrel, down 0.54%, before improving to $79.01 at the time of writing. While oil stockpiles decline by 6.1 million barrels, US petrol inventories increase by 1.5 million barrels, …

Following China’s rate cut and the significant drive for greater lending, which indicate a deteriorating economy, WTI crude declined by 0.95 percent. Pessimism is increased by the significant 31% decline in Saudi Arabia’s oil shipments to China in July.The US rig count is falling, indicating a likely tightening of the …

Oil is set to end the week lower after a seven-week winning streak, as worries about China’s economy outweigh indicators of tight supply. The seven-week price rally, driven by supply cuts by the Organization of the Petroleum Exporting Countries and its allies (OPEC +), was the longest streak of gains …

Oil prices slightly surged earlier on Thursday after falling for three straight sessions as a result of the sliding US Dollar Index in addition to the significant efforts by China’s central bank to support the country’s real estate sector and overall economy following fears about potential economic slowdown in one …

At the time of writing, the price of a barrel of WTI crude oil is $80.292. On the whole, it is down nearly -1.86%. In response to the economy’s sluggish recovery, China’s central bank lowers crucial lending rates, which affects the outlook for global oil consumption. Saudi Arabia and Russia’s …

Soft inflation figures from the US and weaker US dollar contribute to limiting crude oil’s losses. Eyes now are focusing on the Fed speaker later during the US trading session. WTI’s outlook remains positive amid reports suggesting tighter global supplies.On Thursday’s session, the WTI crude saw more than 1% losses …

Oil prices rose on Wednesday as lower supply as a result of production cuts by Saudi Arabia and Russia offset concerns about slowing demand from China, the world’s largest crude importer, and a report showing an increase in US crude inventories. And state media reported that the Saudi cabinet confirmed …