Crude Oil
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Crude oil analysis: WTI steady ahead of inventories data
Crude oil looks set to end March and the first quarter higher. Oil prices have been buoyed by easing demand concerns and sustained supply cuts by the OPEC+. Meanwhile WTI technical analysis points higher, for as long as $79-$80 support area holds.
Crude oil analysis Strong Chinese demand fuels rally
Crude oil analysis: China set to import record volumes of Russian oil in March, as oil extends weekly breakout ahead of a busy week for financial markets.
Crude oil consolidates bullish break, gold heavy after record run
How many rate cuts the Federal Reserve signals for 2024 could have an outsized impact on how commodities such as crude oil and gold perform longer-term.
Crude oil analysis: WTI breaks $80 barrier
Factors supporting oil price include optimism over China, bullish forecast from IEA and general strength in commodities.
Crude oil outlook: WTI briefly rises above $80
Crude oil outlook boosted from multiple sources today, including a weaker US dollar, a bigger than expected crude product draw, and positive risk sentiment after China set ambitious growth target
Crude oil analysis: WTI looks poised to extend gains despite weak start
What does OPEC’s decision mean for oil prices is discussed in this article. We also take a look at the WTI chart, with technical analysis pointing higher. But bullish momentum needs to resume and fast.
WTI crude oil bulls eye a break to $80
WTI crude oil has managed to rise mostly as a function of short covering. And whilst it looks set to make a break for $80, a fresh catalyst may be required before we should expect runaway gains.
WTI Crude Oil Forecast: Rejected at Resistance but Bullish Structure Remains
Oil prices have been very range-bound over the past few months but breakout potential remains as WTI has built an ascending triangle inside of the recent range.
Crude oil analysis – February 21, 2024
Technical levels and factors on Brent discussed in this article, ahead of the publication of global PMIs and crude inventories data, which could provide catalyst for a potential breakout.
Crude oil outlook: WTI could reach $80
Factors that oil investors will be focusing on this week are discussed in this article, but in short, the risks remained skewed to upside despite despite choppy recent price action.
Gold, crude oil looking heavy despite reversal in bond yields, US dollar
Gold and crude oil are looking heavy despite a large reversal in US bond yields from the highs struck on Tuesday, unable to find any meaningful traction despite the improvement in risk appetite and softer US dollar.
Crude oil outlook: What now after a volatile two weeks?
Oil prices posted about a 7% weekly loss a week ago. But by Friday afternoon trading, when this report was written, crude had recouped much of those losses. Prices were now up around 5% on the week, with Brent oil trading around its 200-day moving average at $81.50.
Crude oil drifts into pivotal level, bears circle gold: European Open
WTI crude is trying to rise for a third day in line with my bullish bias, although resistance nearby hints at a pullback at the least. Momentum for gold has turned lower, and it looks like bears may not quite be done yet.
WTI crude oil looks stretched around its cycle lows
Crude oil prices fell over 10% in just five days, from the Jan 29th high to Monday’s low. And with support on hand, its downside potential could be limited over the near term.
Crude oil bulls eyeing key support following largest three-day plunge in months
Crude oil finished last week nursing its largest three-day decline since October, sliding 7.1% despite escalating geopolitical tensions. But with US and UK forces bombing Iranian-backed militia targets in Yemen, Iraq and Syria over the weekend, grounds for a bounce may be increasing.
Crude oil outlook: WTI plunges on Gaza ceasefire news, China concerns
Crude oil plunges, but Middle East tensions still remain high despite potential ceasefire between Israel and Hamas. IMF raises global GDP forecasts as US economy again displays resilience, as evidence by a robust jobs report. But China remains a concern.
WTI technical analysis: Crude oil turns positive - Technical Tuesday
Crude oil is already supported on raised geopolitical risks but now we also have improved demand outlook, after the IMF raised its global GDP forecasts thanks to a resilient US economy and fiscal support from China.
Risks for crude oil and gold skewing higher as geopolitical tensions build
Geopolitical risks in the Middle East and the US interest rate outlook will be two of the dominant market themes traders will be grappling with this week, creating the potential for renewed volatility in the likes of crude oil and gold.
Unseasonal inventory plunge has crude oil bulls eyeing upside
Traders have been searching for evidence of market tightness in crude oil for months, wondering when production and export cuts from OPEC and Russia would filter through to visible inventories. Perhaps they just found it.
Crude oil outlook boosted by geopolitics and easing demand fears
Crude oil outlook boosted by Middle East conflict while strengthening data reduces demand fears. The US attacks on targeted "Iran-affiliated groups" in Iraq have been condemned as "contributing to a reckless escalation" in the crisis. WTI technical levels to watch include $75 on the downside now.
Crude oil analysis: WTI hits $75 - Technical Tuesday, January 23, 2024
WTI hits $75.00 resistance again, as geopolitics support oil on dips. But crude oil faces some key risks, including weaker demand outlook and strengthening US dollar
GBP/JPY teases 2015 high post BOJ, Crude oil eyes $77: European open
The US dollar and yen were the weakest FX majors during the Asian session, following reports of China stimulus and no change in policy from the BOJ. GBP/JPY has probed a key resistance level and crude oil shows the potential to extend yesterday's gains.
USD/CAD, Crude Oil Forecast: USD/CAD Rally Pauses as WTI Breaks Out
WTI Crude Oil is rallying as the IEA revised its 2024 oil demand growth forecast up to 1.24M bpd amidst ongoing tensions in the Middle East.