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Energy

Crude oil forecast: WTI turns positive, snapping 3-day fall

Crude oil prices turned high on the session, with Brent finding good support from $84.00 and WTI around $80.50. We are still anticipating higher oil prices due to slower output growth in H2, which should means a tighter oil market. Therefore, our crude oil forecast remains bullish.

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July 10, 2024 04:45 PM
Energy

Crude oil forecast still bullish despite drop

Recent softness in global data has weighed on oil investors’ expectations about the level of demand growth. Yet, some oil forecasters like the Energy Information Administration (EIA) continue to envisage higher oil prices, thanks largely to lower output growth. We also share this view and reckon oil prices are heading further higher in H2 as the market tightens. Our crude oil forecast thus remains bullish.

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July 9, 2024 06:30 PM
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Crude oil analysis: WTI off highs but extends rally

West Texas Intermediate (WTI) crude oil was slightly off its best levels but remained on track to close higher for the fourth consecutive week as of late Friday. In the week ahead, keep an eye on crude inventories and consumer inflation data from the US.

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Crude oil forecast: WTI hits trend resistance ahead of key macro events

It is possible we could see crude oil prices come under pressure again after the recent recovery. After all, there are several factors that are likely to limit the upside potential from here, including increased non-OPEC supply, which is undermining the OPEC+ efforts to stabilise the markets.

Energy

Crude oil forecast: WTI stages sharp recovery

While there is hope for increased fuel demand as we head deeper into the US driving season, today’s recovery comes on the back of a three-week drop amid concerns over demand in China and rising non-OPEC supply. So, it remains to be seen whether the recovery can hold. The crude oil forecast will be under spotlight when the Fed make a decision on interest rates later this week.

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June 10, 2024 06:00 PM
Energy

Crude Oil Forecast: Week Ahead – June 10, 2024

The crude oil selling resumed on Friday after a two-day respite, although the losses were not as severe as those observed earlier in the week and far less forceful than the drop in metals. This is because a strong jobs report and services PMI data both helped to reduce fears over weakening demand in the US...

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Crude oil forecast: WTI holds key support after sharp sell-off

Today’s release of a much stronger-than-expected ISM services PMI report has also helped to reduce economic slowdown fears, and this is helping oil prices. Traders have largely shrugged off the unexpected build in US crude oil stocks. In light of today’s recovery, the short-term crude oil forecast has turned moderately bullish.

Energy

Crude oil analysis: WTI plunges on demand fears as OPEC+ fails to lift prices

Crude oil analysis: ISM manufacturing PMI miss highlights demand worries after OPEC + failed to underpin prices with their latest decision to extend output cuts. WTI technical analysis is clearly bearish but watch out for oversold bounce as prices approach technical support levels.

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June 3, 2024 05:29 PM
Energy

Crude oil analysis: Have oil prices formed a low?

WTI formed a bullish signal Wednesday after the DoE reported a drop in stockpiles, while the uptick in refinery utilization rate was welcome news ahead of the US driving season. Meanwhile, oil prices may also be closer to bottom as investors have now mostly priced out the risk of a wider conflict in the Middle East.

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Crude oil analysis: Could oil prices stage a recovery?

Our crude oil analysis suggests prices may bounce back after having fallen sharply in recent weeks amid waning risks of supply disruptions in the Middle East.

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Crude oil analysis: Brent aims to find a low after sharp drop

War risk premium fades but OPEC+ cuts and reduced fears about Eurozone economy keep oil prices supported. Brent oil technical analysis suggest prices are now at key support zone.

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May 3, 2024 01:11 PM
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WTI Crude Oil Charts: Oil Demand vs FOMC Statement

WTI Crude Oil takes a dive as market anticipations steer the wheel towards lower demand expectations

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U.S. Crude Oil Outlook: WTI Oil Market Trends Amid Fed Rate Decisions and PMI Results

WTI Crude Oil Outlook: From pipelines to policies, mapping Crude Oil market trends amid Fed rate decisions, employment indicators, and PMI results

Energy

Crude oil analysis: WTI on course to finish higher for fourth month

Crude oil investors eye clues about demand outlook ahead of busy week, as OPEC+ cuts and reduced fears about Eurozone economy keep oil prices supported. WTI technical analysis suggests trend is still bullish.

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April 28, 2024 03:00 PM
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Crude oil outlook remains positive despite reduced war risk

Crude oil demand outlook will come into a sharp focus this week with the release of the global manufacturing PMI data, US GDP and the Fed’s preferred measure of inflation this week. Still, Middle East tensions remain the key driver of short-term price action. Meanwhile, WTI technical analysis suggests the longer-term trend is still bullish.

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Crude oil analysis: WTI drops amid demand concerns

Middle East concerns should keep the downside limited for crude oil, after prices slid 3% as demand concerns intensified on weaker Chinese industrial data and amid the prospects of higher interest rates for longer. WTI technical analysis suggests the longer-term trend remains bullish, with the first short-term support level to watch coming in around $82 area.

Energy

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.

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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.

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March 18, 2024 04:00 PM
Energy

Crude oil analysis: WTI breaks $80 barrier

Factors supporting oil price include optimism over China, bullish forecast from IEA and general strength in commodities.

Research

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

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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.

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March 4, 2024 03:30 PM
Energy

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.

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February 21, 2024 03:30 PM
Energy

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.

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February 19, 2024 03:30 PM