US Crude Oil
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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.
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.
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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
Crude oil analysis: WTI extends rise for fifth day
Crude oil analysis: Macro environment for oil remains bullish as crude oil technical analysis suggest WTI could rise to test the key $75 level. Meanwhile, as bullish momentum is gathering pace, this is making oil less and less appealing for the bears.
WTI technical analysis: Crude oil extends recovery on Red Sea attacks
After last week’s hammer candle, today’s upside follow through would appease the bulls. Crude oil prices turned sharply higher after BP paused all Red Sea oil shipments following the rebel attacks. WTI has likely formed a bottom after bouncing from its 200-week average last week.
WTI analysis: Crude oil seeking a bottom
In this article, we discuss the factors drove the significant drop in prices and explain why further downside could be limited for crude oil. WTI technical analysis suggests $70 is among key support levels to watch
Everything you need to know about the Exxon and Chevron acquisitions
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: WTI off lows as focus turns to OPEC+ meeting
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.
WTI analysis: Crude oil bounces off key support
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?
Crude Oil Analysis: WTI and Brent Dump to Multi-Month Lows
The bullish supply-demand picture from the third quarter has reversed, driving crude oil prices sharply lower so far this week
WTI analysis: Crude oil in spotlight – Technical Tuesday
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.
Oil prices flirt with $100 handle
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
Crude oil outlook: WTI hits new 2023 high
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?
Crude oil outlook: WTI to start Q3 with some bullish momentum
Our crude oil outlook remains positive after much of the selling pressure was absorbed successfully in June, with WTI refusing to remain below $70.