UK Crude Oil
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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 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.
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.
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FTSE and crude oil analysis: Will rebound in oil finally lift UK index?
Can rebounding oil prices fuel rally in energy stocks like BP and Shell? FTSE technical analysis hints at potential recovery for UK index. Meanwhile, Brent crude oil rises above 200-day average ahead of OPEC meeting.
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: Brent jumps on Saudi, Russia voluntary cuts
Our bullish crude oil outlook has been provided a fresh impetus as we start a new quarter.
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.
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
BP to exit Russian State Owned Rosneft Stake
If there is one positive from Russia's attack on Ukraine, it has been how Putin's needless act of aggression has managed to unite a previously fragmented association of countries and their people into a global coalition fighting for Ukraine.
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