Tag: Crude Oil Price

November 2, 2022

December WTI crude oil futures continue to coil up, with the swings becoming increasingly smaller since the end of August. This signals that while oil has been broadly directionless that is about to change. To start October oil posted a […]

August 8, 2022

WTI crude oil made a small recovery in Asia today after hitting a 6-month low of US$ 87.01 on Friday as the US Dollar found support across the board. Data from energy technology company Baker Hughes showed a small drop […]

August 2, 2022

Crude oil prices fell to kick off August, putting the commodity on track for a third monthly loss, assuming the nearly 5% drop on Monday is a sign of what’s to come. China’s National Bureau of Statistics (NBS) reported a […]

June 28, 2022

WTI crude oil (CL) continues the rally it began to end last week after taking a beating from $123 down to $101. The outlook appears favorable in the near-term, while the broader outlook is mired in what will probably amount […]

June 6, 2022

Crude oil made a 2-month high today with the WTI futures contract trading as high as 120.99 US$ bbl and the Brent contract reaching US$ 121.95 bbl early in the Asian session. Both have since eased off more than a […]

April 20, 2022

With the Russian invasion of Ukraine on the cusp of entering its third month, energy markets have endured another wave of increased volatility. But the news flow around oil has been conflicting to say the least, and it may be […]

March 31, 2022

Crude oil prices are experiencing another volatile week as conflicting headlines dominate price action. Concerns over the European Union banning Russian oil imports persist. The Iran nuclear deal appears close to the goal line. Security concerns around Saudi Arabian distribution […]

March 4, 2022

WTI crude oil run appears to have come to a pause, at least in the near-term. Thursday’s sharp $10 turnabout indicates exhaustion in recent buying and sets it up to trade sideways to lower. Adding conviction to this notion is […]

February 4, 2022

OUTPUT LOWER THAN ANTICIPATED AS OPEC+ NATIONS WRESTLE WITH CAPACITY CONSTRAINTS On Wednesday this week, OPEC+ held one of its briefest meetings where it was decided that the group would maintain its 400,000 bpd supply increase for March. However, the […]

December 20, 2021

It’s been a month since we last checked in on crude oil prices, when it was observed that “it appears that a potential double top may be forming.” Indeed, a double top played out over the ensuing weeks, but the […]

November 29, 2021

It’s been a big year for crude oil prices. After flopping below zero last April matters have changed quite a bit. Oil prices caught a major last November, on the heels of the election, printing a bullish engulfing pattern as […]

November 15, 2021

Crude oil prices are vulnerable to geopolitically-induced volatility at the end of November when Iranian, US and European officials are set to meet in Vienna to discuss reviving an agreement on de-nuclearization. After an initial accord was negotiated and implemented […]

August 10, 2021

Oil prices rose 3% on Tuesday, largely driven by profit taking after more than a week’s losses and supported by rising demand in Europe and the United States. Brent crude was up $1.87, or 2.7%, at $70.91 a barrel by […]

July 6, 2021

The latest OPEC+ meeting was called off Monday after the UAE and Saudi Arabia failed to agree on the end date for current production cuts. While the UAE accepted the proposed raising of output by 2 million barrels a day, […]