WTI

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Oil_rig

Crude oil outlook: WTI break down increasingly likely despite OPEC+ efforts

The lack of a more positive response after the OPEC+ meeting shows the market is disappointed and thus even lower oil prices could be the outcome. Our crude oil outlook remains modestly bearish, as before.

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Today 12:49 PM
Oil extraction

Oil Price Forecast: Oil Bears Reassert Control– Crude Support in View

Oil prices reversed from yearly open resistance this week with the bears aiming back towards multi-month range lows. A multi-timeframe view of the oil technical charts.

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Oil extraction

WTI Forecast: Israel-Lebanon Ceasefire Drives Crude Oil Back Toward $69

How could a potential Israel-Lebanon ceasefire impact oil prices and what are the key levels to watch?

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November 25, 2024 08:00 PM
Oil_rig

Crude oil outlook remains bearish despite 3% rally

Given the rise in non-OPEC supply growth, the OPEC+ will be under pressure to support prices. But the group has said that it will gradually restore withheld supplies after multiple delays. What’s more, we could see a sharp rise in US drilling activity under Trump’s plans. As a result, we could potentially see a boost in both OPEC and non-OPEC production by 2025 and beyond.

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November 18, 2024 04:58 PM
Oil refinery

Crude oil forecast: WTI could drop below $65 amid rising supply

Crude oil prices came off their earlier lows by mid-day in London. But the path of least resistance remains to the downside, and I would be rather surprised if a breakdown does not occur in the coming days, barring a surprise supply-side shock.

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November 15, 2024 01:56 PM
Energy

Oil Price Forecast: Crude Oil Spills Back into Support

Oil prices plunged more than 8% off the monthly high with WTI approaching critical support near the yearly lows. A multi-timeframe view of the Oil technical charts.

Crude_oil_USD

Crude oil outlook: WTI could be heading sub-$65

Highlighting demand concerns, the OPEC has today cut its oil demand growth forecast again. This is the fourth month in a row that it has done so. Weak oil demand in China, the world’s largest oil consumer, remains the primary driver of falling prices.

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November 12, 2024 06:21 PM
Downward trend

Oil mulls bearish breakout as Trump names EPA head, gold slammed

It was a lively day’s trade on Monday with Bitcoin reaching news highs above $80k and the USD index retesting its YTD high of 105.62. WTI crude oil and gold are on the brink of breaking key levels to the downside.

Oil_rig

Crude oil forecast: Increased drilling under Trump could weigh on prices

The immediate response in the commodities space to the Republican’s clean sweep victory has been a bearish one - especially for industrial metals. Copper and silver fell over 4% each, tracking weaker iron ore prices, while gold was off by around 3%. Crude prices fell too but came sharply off their earlier lows.

Energy

Crude Oil Forecast: Oil Erases October Rally- Key Support in View

Oil prices plunged nearly 15% off the monthly high with WTI now approaching key technical support at the yearly lows. A multi-timeframe view of the Oil technical charts.

Oil refinery

Crude oil forecast: WTI path remains bearish as election risks loom

Crude oil forecast: Oil prices have shown some recovery, bouncing over 1% in early Monday trading, before easing a little off their earlier highs. However, after last week’s steep 9% decline, the broader outlook remains bearish, especially while WTI crude stays below the critical $70 mark. Could oil prices dip toward $65 in the days ahead?

Research

AUD/JPY looks set for a breakout, crude oil mulls bounce from $70

With Wall Street indices holding up and Australia's strong employment report holding up the Aussie in a weak-yen environment, AUD/JPY looks set for a breaking. Crude oil looks ready for a cheeky bounce too.

Crude Oil Technical Forecast: Oil Spill Searches Support

Oil prices plummeted more than 7.3% today with WTI poised for an outside day reversal- risk for further losses. A multi-timeframe view of the Oil technical charts.

USD reverses, gold-bulls eye 2700, crude oil falters ahead of US GDP

Traders appear to be booking profits ahead of a key US GDP report later today, with the USD index providing a solid bounce from 100. Gold might reach for 2700 (even if it does look stretched), while crude oil could be in for a deeper pullback.