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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 Analysis: WTI, Brent Bounce, OPEC+ Uncertainty Remains
The tail risks of a failure for OPEC+ to reach an agreement is on the rise, presenting an underappreciated potential for even more volatility in the crude oil market...
Crude Oil Analysis: WTI, Brent Gain Ground Ahead of OPEC+
Both WTI and Brent crude oil could rally further from here after breaking out of their bearish channels...
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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
Crude oil outlook: OPEC gap finally closed
While I am waiting for a technical reversal signal for confirmation, fundamentally my crude oil outlook is bullish.
What are the most traded commodities?
The most traded commodities are energy sources like oil and gas, plus metals such as gold and agricultural products. Here we break down the top ten most traded commodities and explain how each one is traded.
OPEC+ agrees to a 2,000,000bpd cut!
How much higher will Brent Crude go? It may depend of the size of the energy crisis that is brewing throughout Europe, as well as the extend to any type of price cap placed on Russian oil.
OPEC+ agrees to a 2,000,000bpd cut!
How much higher will Brent Crude go? It may depend of the size of the energy crisis that is brewing throughout Europe, as well as the extend to any type of price cap placed on Russian oil.
Oil unlikely to hold rebound as recession fears intensify
A sharp slowdown in the global economy is now inevitable…
Lira slumps further as crude oil nears $122
Lira slumps further as crude oil nears $122
Oil prices rally again, piles further misery on lira
Rising oil prices have been great news for oil producers and bad for almost everyone else, not least turkey.
The global energy crisis - when will it abate and what does it mean for oil?
As economies recovered from the pandemic hit, soaring demand, combined with a supply crunch sent energy markets reeling. Oil and gas prices surged to multi-year highs before falling. Will the energy crisis ease in 2022? And what will this mean for oil prices?
OPEC+ set for existing deal despite China, overcompliance concerns
The OPEC and its allies (OPEC+) are continuing to slowly relax the output cuts they introduced in 2020
Crude rallies as EU unveils plan to ban Russian oil imports
The plan will see Russian supply of crude oil phased out within six months and crude products by the end of the year
Crude Oil jumps as Germany says ok to oil embargo
As the EU prepares for an embargo of Russian oil, price has gone bid.
Oil off 7-year highs, $100 still in sight, Nord Stream 2 halted
Oil has eased from 7 year highs. Energy supply disruption fears remain front and central as Germany puts the brakes on Nord Stream 2. US - Iran talks nearing the end game.
OPEC Preview: Is Oil on its way to $100 even with a 400,000bpd increase?
With geopolitical tensions building in Russia, even an “as expected” result may not be able to keep oil prices from continuing to rise.
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WTI Crude and Brent Crude break out to highest levels since 2014
Demand is robust and OPEC+ continues to have supply issues from some member countries. Will this allow oil to continue higher?
European Open: Equities bounce on Omicron fatigue
There’s only so much misery traders can take, and that appears to be 3-day given how futures markets and Asian indices are all higher overnight.
European Open: Brent Looks to Reclaim $84.0
Oil prices were higher overnight after Aramco raised their official selling price for crude, helping brent to rise to a 2-day high.
With OPEC leaving output unchanged, what’s next for USD/CAD?
As demand for energy increases and OPEC supply remains constant, WTI and Brent oil prices should continue to increase as USD/CAD continues to decrease
What is driving the U.K. fuel panic and what comes next for BP?
Covid, amongst other things, has highlighted the delicate nature of global supply chains built for efficiencies over reliability.
European Open: Social Democrats Narrowly Win German Election
After a very close contest, the centre-left Social Democrats (SPD) narrowly won the German election, putting them in power for the first time in 16 years. Well, kind of.