Articles tagged with "wti-usd"

Over the last two trading sessions, WTI crude oil has once again displayed a notable bearish bias, with prices falling nearly 6%. Part of this renewed selling pressure has been driven by recent developments in the Middle East, which have helped temporarily ease the geopolitical tensions that had supported the oil risk premium in previous weeks.

These remain relevant sessions for WTI crude oil, which has recorded an increase of just over 14% on average over the last 5 trading sessions. This behavior indicates that the buying bias remains important in the short term.

Crude oil continues to face difficult trading sessions in the short term. Over the last 5 trading sessions on average, WTI remains down close to -3.5%, with consistent movements below the 70-dollar area. This continues to highlight a selling bias that has remained in place for several weeks.

Oil prices initially opened higher following weekend reports that Iran had once again moved to restrict activity through the Strait of Hormuz. However, that early strength quickly faded, with crude retreating towards levels seen at the end of last week. At the time of writing, WTI crude was down around 2.5%, hovering near intraday lows. Part of the weakness reflects the fact that the strait was not completely shut, despite shipping data showing a notable decline in vessel traffic. More importantly, investors have responded positively to diplomatic developments in the region.

Oil prices are rising once more as Trump warns Iran has to pay the price for taking too long to negotiate. Despite jawboning the oil market lower earlier this week, it looks like the situation is deteriorating unfortunately and oil prices could start climbing towards $100 once again.

At around lunchtime London time, we saw oil prices take a dump after Al Arabiya (again) reported that Pakistani army chief was on his way to Tehran. This was yet another daily optimistic headline emerging just ahead of the open on Wall Street. Lo and behold, this was later denied by Pakistan’s Foreign Minister saying he was "not aware of any visit" to Iran planned by the Army Chief, as reported by CBS. Oil went back up to turn flat on the day.

After a weaker start, crude oil prices bounced back during Monday’s London session, with Brent turning positive by mid-day. Oil prices climbed roughly 3% yesterday as markets further unwound earlier optimism surrounding a swift resolution to tensions in the Strait of Hormuz.

Recent sessions have been challenging for WTI crude, which had shown strength just weeks ago. Over the last six trading sessions, the price has declined by more than 15%, not only falling below the $100 level, but also remaining below the key psychological level of $90 per barrel.

Recent sessions have been quite volatile for WTI crude prices, as the price has fallen sharply below the $100 level, which had held at the beginning of the trading week. Currently, WTI is trading slightly above $90 per barrel, marking a decline of more than 13% during the latest trading session.

At the start of the trading session, WTI crude posted a gain of more than 7.7%, bringing price action once again close to the $100 per barrel level in the short term. The renewed buying pressure is mainly driven by fresh updates from the Middle East conflict, which continue to raise concerns about global supply dynamics.

Throughout the week, oil prices have continued to climb, and WTI has accumulated gains of more than 19% over the last four trading sessions. The barrel has even reached the $80 per barrel area, a level not seen in several months.

During today’s session, WTI crude oil posted a decline of more than 2%, moving once again toward the most relevant short-term support level near $62 per barrel. The renewed selling pressure is partly driven by recent progress in negotiations between Iran and the United States, which reduces the immediate risk of disruptions to global oil supply.