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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.

Crude oil rises on production cuts, ASX 200 set to retrace? Asian Open

With geopolitical tensions on the rise and Russia announcing production cuts as infrastructure continues to face attacks, the path of least resistance for WTI crude oil appears to be higher.

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March 25, 2024 10:27 PM
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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

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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.

WTI crude oil looks set to break $80: Asian Open – March 14, 2024

After several weeks of choppy trading conditions, momentum has turned higher on WTI crude oil and a breakout above $80 is on the radar.

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March 13, 2024 10:19 PM
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AUD/USD, ASX 200 pause for breath ahead of US CPI: Asian Open

With traders eager to price in Fed cuts, today’s US CPI could bolster the US dollar and see AUD/USD and the ASX 200 pull back further if the data comes in too hot.

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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 Forecast: WTI tests 3-Month Highs Near 80.00 – Will We Break Out?

This week will be a key one for WTI, with a bullish break above 80.00 potentially setting the stage for a quick continuation toward the mid-80.00s.

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March 3, 2024 07:55 PM
Energy

WTI crude oil bulls eye a break to $80

WTI crude oil has managed to rise mostly as a function of short covering. And whilst it looks set to make a break for $80, a fresh catalyst may be required before we should expect runaway gains.

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February 28, 2024 12:00 AM
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AUD, NZD in focus for AU CPI and RBNZ meeting: Asian Open

Data finally begins to pick up for the week with an AU CPI report and RBNZ meeting, which places NZD/USD and AUD/NZD into focus.

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February 27, 2024 09:45 PM
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Gold rises on renewed Fed-cut bets, crude oil falters at resistance

Soft inflation figures from Canada and a poll of economists backing a June Fed cut sent gold higher on Wednesday, as traders refreshed their dovish bets. Crude oil has also faltered once more at a key resistance area.

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February 20, 2024 10:27 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
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EUR/USD falters at 1.08 on CPI-eve, USD/JPY remains buoyant: Asian Open

EUR/USD snapped a 4-day winning Streak around a key resistance zone, and USD/JPY traded less than 50-pips from 150 ahead of a key YS CPI report.

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February 12, 2024 10:08 PM

EUR/USD, US dollar, Dow Jones, crude oil analysis: COT report

Traders increased their bearish exposure to EUR/USD futures at their fastest pace in 20 months last week, and large speculators increased their net-long exposure to US dollar index futures despite being on the cusp of flipping to net-short exposure the week prior.

Crude oil drifts into pivotal level, bears circle gold: European Open

WTI crude is trying to rise for a third day in line with my bullish bias, although resistance nearby hints at a pullback at the least. Momentum for gold has turned lower, and it looks like bears may not quite be done yet.

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February 8, 2024 04:42 AM
Energy

WTI crude oil looks stretched around its cycle lows

Crude oil prices fell over 10% in just five days, from the Jan 29th high to Monday’s low. And with support on hand, its downside potential could be limited over the near term.

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February 6, 2024 12:50 AM

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Crude oil bulls eyeing key support following largest three-day plunge in months

Crude oil finished last week nursing its largest three-day decline since October, sliding 7.1% despite escalating geopolitical tensions. But with US and UK forces bombing Iranian-backed militia targets in Yemen, Iraq and Syria over the weekend, grounds for a bounce may be increasing.

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February 4, 2024 10:58 PM
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US dollar rallies, S&P 500, Dow Jones and Nasdaq tumble post FOMC

The Fed held rates and ruled out a March cut, which saw the S&P 500 suffer its worst day since September, the Nasdaq 100 falling around -1.8% and the Dow Jones form a bearish outside day at its record high. USD/JPY still looks good for a run to 150 to my technical eyes.

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January 31, 2024 10:13 PM
Energy

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.

Energy

Unseasonal inventory plunge has crude oil bulls eyeing upside

Traders have been searching for evidence of market tightness in crude oil for months, wondering when production and export cuts from OPEC and Russia would filter through to visible inventories. Perhaps they just found it.

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January 25, 2024 02:19 AM
Oil drilling in sea

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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January 24, 2024 05:00 PM
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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