Tag: crude oil

April 8, 2024

Israeli soldiers have been called back from Southern Israel after sparking outrage over the recent aggression that killed seven aid workers. The US sent a particularly strong message that civilians need to be protected and that Israel needs to allow […]

March 27, 2024

Crude Oil Prices look set to make Wednesday a second day of falls as the market still looks keen on taking some profit after this month’s rise to highs not seen since October. News that US stockpiles increased very markedly […]

February 28, 2024

Oil prices eased early on Thursday after a larger-than-expected build in U.S. crude stockpiles stoked worries about slow demand, while signs that U.S. interest rates could remain elevated for longer also added to pressure. Brent crude futures fell 22 cents, […]

January 17, 2024

Crude oil prices fell by more than a dollar per barrel on Wednesday as China’s growth data disappointed, raising more worries about end-demand for energy. The world’s number two economy expanded by an annualized 5.2% in the final quarter of […]

December 14, 2023

Oil prices settled higher Thursday, buoyed by a Federal Reserve-induced slump in dollar and the International Energy Agency’s brighter outlook for demand next year. By 14:30 ET (19.30 GMT), the U.S. crude futures settled 3% higher at $71.58 a barrel […]

October 23, 2023

Momentum in the most recent rebound in crude oil isn’t looking strong enough to ensure a sustainable rally just yet. The implication is that the downward correction that started toward the end of September could still be in play. Oil […]

October 16, 2023

Crude oil has held onto Friday’s gains as traders continue to watch the developments in the Middle East. As reports roll in of various pockets of fighting, the market remains cautious and concerned about the potential disruption to the global […]

October 12, 2023

Crude oil steadied in Asian trade today after tumbling overnight in the wake of a surge in stockpiles. The move lower unfolded despite favourable conditions for equities after more hawkish comments from Fed speakers. Data released overnight saw the American […]

August 31, 2023

Crude oil prices extended higher over the past 24 hours, continuing a near-term winning streak since last week. In response, retail traders have been cautiously increasing downside exposure. This can be seen by taking a look at IG Client Sentiment […]

August 23, 2023

WTI crude oil prices may be reading to extend lower following recent technical developments, especially on the 4-hour chart. For now, let us focus on the daily setting. Oil is currently on course for a second consecutive weekly loss, which […]

August 17, 2023

Despite Thursday’s push higher, WTI crude oil prices are on course to drop -3.5 percent this week so far. Not only would that be the worst week since early May, but it would also bring a 7-week winning streak to […]

August 9, 2023

Crude oil prices have rallied nearly 24 percent since finding a bottom in June. In fact, the commodity is on course for a 7th consecutive week of gains. If confirmed, this would be the longest winning streak since January 2022. […]

July 24, 2023

Benchmark U.S. crude oil for September delivery rose $1.67 to $78.74 a barrel Monday. Brent crude for September delivery rose $1.67 to $82.74 a barrel. Wholesale gasoline for August delivery rose 9 cents $2.90 a gallon. August heating oil rose […]

June 9, 2023

Crude oil continued its bumpy ride this week going into the Friday session after news reports of a potential US – Iran deal to free up supply for the global market overnight. The Israeli news outlet Haaretz cited Israeli defence […]

May 16, 2023

Crude oil nudged slightly higher on Tuesday after notable gains in the North American session after it was announced 3 million barrels will be bought to replenish the depleted supplies at the Special Petroleum Reserve (SPR). The WTI futures contract […]

May 2, 2023

Crude oil surged in early April following OPEC+’s unexpected announcement to cut production to stabilize energy markets. The decision briefly carried WTI futures to their best levels since November 2022, but the bullish impetus faded quickly when prices were unable […]

April 26, 2023

The downward pressure in crude oil and natural gas has abated somewhat recently, but both need to clear important resistance levels for the outlook to turn constructive. Crude Oil: Bullish gap is still in place Crude oil has retreated from […]

April 6, 2023

Crude oil dipped today after US data revealed a potentially softening economy, raising the spectre of a possible looming recession in the world’s largest economy. The data can be viewed here. The US Dollar strengthened into the New York close […]

April 3, 2023

Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. This time, the decision was a surprise and is underlining worries about where the global economy might be headed. Russia is joining in by extending […]

March 10, 2023

Crude Oil faced renewed selling pressure this morning in what has been a difficult week for the commodity. This followed a positive start to the week as WTI by broke above the 100-day MA for the first time since November […]