US Crude Oil

The two largest US oil and gas companies both announced major acquisitions that will increase production while lowering taxable revenue in the near future. Learn more in our rundown of Chevron and Exxon here.

Crude oil analysis: Investors await OPEC+ meeting on Nov 30. We expect rollover of Saudi and Russia cuts, which could help to support prices. WTI needs an interim higher high above $77.60-$78.50 to signal trend reversal after intense selling over the past several weeks.

Crude oil prices started the week on the backfoot before turning positive at the time of writing. The recovery comes after prices started to stabilise at the end of last week, following a sharp 3-week decline despite Israel’s increased military operation in Gaza. Have oil prices finally bottomed?

The bullish supply-demand picture from the third quarter has reversed, driving crude oil prices sharply lower so far this week

Investors’ focus will remain on oil prices after their recent sharp gains amid the ongoing supply cuts by the OPEC and allies, and in light of today’s bullish reversal. Owing to concerns over a crude supply deficit, there is a good chance we could see oil prices climb above $100 and thus stoke inflationary worries further.

WTI crude has risen to $91.65 per barrel (bbl) at time of writing, with a $93.44 high Brent crude oil has risen to $94.58 per barrel (bbl) at time of writing, with a $95.66 high The US dollar index has risen to 105.2 with strong momentum

WTI oil prices reached its highest levels since last November, breaking above the April high of $83.50 briefly, before coming off its best levels. Traders will be watching to see how oil prices will close the session today. The OPEC+ ongoing supply cuts are continuing to offset concerns over demand. But will WTI manage to climb to $85 and higher?

Our crude oil outlook remains positive after much of the selling pressure was absorbed successfully in June, with WTI refusing to remain below $70.

Oil prices are on the verge of breaking below strong previous support at the 93.00 level...

The focus for oil and other investors will turn to the latest Chinese and US data...

If there is one positive from Russia's attack on Ukraine, it has been how Putin's needless act of aggression has managed to unite a previously fragmented association of countries and their people into a global coalition fighting for Ukraine.

News reports that Putin has Authorised Special Military Operation in Ukraine’s Donbass has prompted a rapid repricing in risk assets and safe havens alike this afternoon.

US crude oil has broken out to its highest level in over seven years above last week’s high near $88.00 and looking at the chart, there’s little in the way of meaningful resistance until above $90.00...

Building on its 4% fall overnight, crude oil is extending losses during the Asian session to be trading below $77 per barrel, almost 10% below its October $85.41 high.

Oil prices were higher overnight after Aramco raised their official selling price for crude, helping brent to rise to a 2-day high.

Oil prices fell to a 4-week low overnight, during their most bearish session in 3-months.

Oil futures are the most traded commodity in the world thanks to their high volatility and global influence. Learn how futures traders buy and sell oil's two main benchmarks: WTI and Brent Crude.