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Tag: crude oil


Energy, Industries

Crude Oil Forecast: Brent Overcome by Recessionary Pressures Despite Several Fundamental Tailwinds

December 9, 2022

Via: DailyFX

BRENT CRUDE OIL FUNDAMENTAL BACKDROP Brent crude oil remains under pressure despite trading marginally higher this Friday. Crude oil fundamentals including both API and EIA weekly crude inventory numbers showing bigger declines than expected have not been enough to overcome […]


Energy, Industries

Crude Oil Forecast: Letup in Geopolitics Weighs on Brent

November 17, 2022

Via: DailyFX

BRENT CRUDE OIL FUNDAMENTAL BACKDROP Brent crude oil prices are trading relatively flat this morning as the rumors around Russian missiles striking Poland is quickly dissipating. The consequence of such actions would have severely disrupted the supply-side should NATO nations […]


Energy, Industries

Crude Oil Price Jumps Around on OPEC+ and IEA Reports, Data and War Woes

November 16, 2022

Via: DailyFX

Crude oil has had a whippy week so far with industry reports, data and geopolitics all impacting prices. Earlier in the week, the Organization of Petroleum Exporting Countries (OPEC) cut their demand forecast for the fourth quarter again. They also […]


Energy, Industries

Oil Price Breaks Out of Bull Flag Formation to Eye Monthly High

October 28, 2022

Via: DailyFX

The price of oil trades back above the 50-Day SMA ($86.68) after defending the monthly low ($80.87), and crude may continue to retrace the decline from the monthly high ($93.48) as it breaks out of a bull-flag formation. OIL PRICE […]


Energy, Industries

Crude Oil Price Outlook Turning Increasingly Bullish

October 26, 2022

Via: DailyFX

December WTI crude oil futures posted a monster week a couple of weeks back that kicked off the notion that we had seen the worst of oil’s decline off the late-spring highs. Within the context of a longer-term uptrend the […]


Energy, Industries

Crude Oil Forecast: Brent Softened by Global Slowdown & Chinese Policies

October 17, 2022

Via: DailyFX

BRENT CRUDE OIL FUNDAMENTAL BACKDROP Brent crude oil opened the week marginally lower after demand side fears continue to overwhelm forecasts despite the recent OPEC+ supply cut announcement. The macro environment has slipped into further turmoil with the eurozone entering […]


Finance Tech, Liquidity

Gold Price Softens Ahead of a Busy Week with Fed, BoE, SNB and BoJ Meetings

September 19, 2022

Via: DailyFX

Gold slipped again today as the US Dollar found some traction with Treasury yields maintaining lofty levels going into a busy week for central banks. The non-yielding precious metal is below us$ 1,670 at the time of going to print. […]


Energy, Industries

Oil Price Technical Forecast: Crude Plunge Threatens Major Break

September 1, 2022

Via: DailyFX

Crude oil prices plunged more than 30% off the June highs with WTI spilling into a key technical support zone. Despite a steep weekly sell-off and a range of nearly 11%, oil continues to trade just above this critical zone […]


Energy, Industries

US strategic oil reserves have hit their lowest level since 1985 after Joe Biden’s record sales

August 23, 2022

Via: Markets Insider

The US’s strategic oil reserves fell to their lowest level in 37 years last week as the releases ordered by President Joe Biden continued. Strategic petroleum reserve (SPR) stockpiles fell to 453.1 million barrels in the week to Friday, according […]


Energy, Industries

Crude Oil Price Steadies in Asia as US Dollar Holds Gains. Will WTI make Fresh Lows?

August 8, 2022

Via: DailyFX

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 […]


Energy, Industries

Crude Oil Price Forecast: Traders Weigh Economic Data Against Tight Supply

August 2, 2022

Via: DailyFX

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 […]


Finance Tech, Trading

Stocks start mixed a day after their biggest rally in weeks

July 20, 2022

Via: ABC News

Wall Street is tacking a bit more onto its big gains from a day earlier, as more profit reports roll in from U.S. companies on Wednesday. The S&P 500 was 0.8% higher in midday trading, a day after soaring 2.8% […]


Energy, Industries

Crude Oil Prices Vulnerable as Central Banks Run the Risk of Inducing Recessions: Top Trading Opportunities

July 11, 2022

Via: DailyFX

WTI crude oil prices have been rising swimmingly since a bottom was found at the peak of the 2020 global pandemic. Heading into the end of the second quarter, the commodity’s momentum slowed notably. Following the brief spike when Russia […]


Energy, Industries

Crude Oil Latest – Increased Recession Fears Weigh Down on Oil

July 6, 2022

Via: DailyFX

The wave of US dollar buying on Tuesday caught many market participants unaware and sent a wide range of asset markets to multi-month and multi-year extremes. The incessant USD buying was sparked by heightened fears that the world’s largest economy […]


Energy, Industries

Crude Oil Price Forecast: WTI Near-term Bullish Amidst Broader Range

June 28, 2022

Via: DailyFX

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 […]


Energy, Industries

WTI Crude Update: EIA See Demand Growth Return in 2023, Oil Sharply Lower

June 20, 2022

Via: DailyFX

Consumers will be glad to see oil prices softening on the back of Friday’s decline although it may be some time before this translates into lower prices at the pumps. The question of demand destruction has resurfaced after the Fed […]


Finance Tech, Trading

Global shares fall amid worries about inflation, oil prices

June 9, 2022

Via: ABC News

Global shares were mostly lower Thursday as investors watched for fresh signs of inflation, including soaring crude oil prices. European shares declined in early trading. France’s CAC 40 slipped 0.7% in early trading to 6,404.59, while Germany’s DAX dropped 0.9% […]


Energy, Industries

Crude Oil Price Rally Plays Out as China Eases Covid Controls. Will WTI Make a New High?

June 6, 2022

Via: DailyFX

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 […]


Energy, Industries

Sanctions have forced Russia to cut its oil output by 1 million barrels a day. That’s a ‘drop in the ocean,’ says the world’s largest independent oil trader.

May 9, 2022

Via: Markets Insider

Sanctions against Russia have knocked 1 million barrels of crude oil off its production each day — but that’s just a “drop in the ocean compared to the intended impact,” according to Mike Muller, the Asia head of Vitol, the […]


Energy, Industries

Crude Oil Price Forecast: Triangle Breakout Lacks Momentum – What’s Next?

April 20, 2022

Via: DailyFX

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 […]