Crude Oil
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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.
Crude oil spikes on reports of Israeli airstrike, gold threatens new high
WTI crude oil was up over 4% during the Asian session on reports that Israel’s middles had struck a site in Iran, further fans fears of a broader-scaled war in the middle East.
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.
WTI crude oil forecast: Price action unconvincing despite strong tailwinds, fat tail risks
Crude oil appears toppy after a mammoth rally since February, unable to push higher despite some seriously strong tailwinds stemming from geopolitics, supply curbs and ongoing strength in the US economy.
EUR/USD, USD/CHF, Crude Oil key levels heading into US inflation, FOMC mins
The economic calendar is beginning to ramp up with a key US inflation report, Fed members speaking ahead of the FOMC minutes and a BOC cash rate decision. Today we look at key levels for EUR/USD, USD/CHF and crude oil.
Crude oil, gold pullbacks unlikely to last long with inflation expectations so elevated
It’s not just fundamentals and technicals driving the rally across large parts of the commodity complex right now, but also a collective rethink from traders about what more than 250 basis points worth of rate cuts from the Federal Reserve this cycle will mean for the long-term global inflation trajectory.
Crude oil forecast: Bullish golden cross looms as WTI hits 2024 highs
The crude oil rally has seen the 50-day moving average flick sharply higher, putting it on track to generate a Golden Cross as it moves above the 200-day moving average. History suggests this may fuel further gains despite the price sitting in overbought territory.
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 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.
Crude oil consolidates bullish break, gold heavy after record run
How many rate cuts the Federal Reserve signals for 2024 could have an outsized impact on how commodities such as crude oil and gold perform longer-term.
Crude oil analysis: WTI breaks $80 barrier
Factors supporting oil price include optimism over China, bullish forecast from IEA and general strength in commodities.
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
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.
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.
WTI Crude Oil Forecast: Rejected at Resistance but Bullish Structure Remains
Oil prices have been very range-bound over the past few months but breakout potential remains as WTI has built an ascending triangle inside of the recent range.
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: 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.
Gold, crude oil looking heavy despite reversal in bond yields, US dollar
Gold and crude oil are looking heavy despite a large reversal in US bond yields from the highs struck on Tuesday, unable to find any meaningful traction despite the improvement in risk appetite and softer US dollar.
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.
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.
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.
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.
Crude oil outlook: WTI plunges on Gaza ceasefire news, China concerns
Crude oil plunges, but Middle East tensions still remain high despite potential ceasefire between Israel and Hamas. IMF raises global GDP forecasts as US economy again displays resilience, as evidence by a robust jobs report. But China remains a concern.