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Oil_rig

Crude oil outlook: WTI break down increasingly likely despite OPEC+ efforts

The lack of a more positive response after the OPEC+ meeting shows the market is disappointed and thus even lower oil prices could be the outcome. Our crude oil outlook remains modestly bearish, as before.

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December 6, 2024 11:49 AM
Oil extraction

Oil Price Forecast: Oil Bears Reassert Control– Crude Support in View

Oil prices reversed from yearly open resistance this week with the bears aiming back towards multi-month range lows. A multi-timeframe view of the oil technical charts.

Oil extraction

WTI Forecast: Israel-Lebanon Ceasefire Drives Crude Oil Back Toward $69

How could a potential Israel-Lebanon ceasefire impact oil prices and what are the key levels to watch?

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November 25, 2024 07:00 PM

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Oil_rig

Crude oil outlook remains bearish despite 3% rally

Given the rise in non-OPEC supply growth, the OPEC+ will be under pressure to support prices. But the group has said that it will gradually restore withheld supplies after multiple delays. What’s more, we could see a sharp rise in US drilling activity under Trump’s plans. As a result, we could potentially see a boost in both OPEC and non-OPEC production by 2025 and beyond.

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November 18, 2024 03:58 PM
Oil refinery

Crude oil forecast: WTI could drop below $65 amid rising supply

Crude oil prices came off their earlier lows by mid-day in London. But the path of least resistance remains to the downside, and I would be rather surprised if a breakdown does not occur in the coming days, barring a surprise supply-side shock.

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November 15, 2024 12:56 PM
Energy

Oil Price Forecast: Crude Oil Spills Back into Support

Oil prices plunged more than 8% off the monthly high with WTI approaching critical support near the yearly lows. A multi-timeframe view of the Oil technical charts.

Crude_oil_USD

Crude oil outlook: WTI could be heading sub-$65

Highlighting demand concerns, the OPEC has today cut its oil demand growth forecast again. This is the fourth month in a row that it has done so. Weak oil demand in China, the world’s largest oil consumer, remains the primary driver of falling prices.

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November 12, 2024 05:21 PM
Downward trend

Oil mulls bearish breakout as Trump names EPA head, gold slammed

It was a lively day’s trade on Monday with Bitcoin reaching news highs above $80k and the USD index retesting its YTD high of 105.62. WTI crude oil and gold are on the brink of breaking key levels to the downside.

Oil_rig

Crude oil forecast: Increased drilling under Trump could weigh on prices

The immediate response in the commodities space to the Republican’s clean sweep victory has been a bearish one - especially for industrial metals. Copper and silver fell over 4% each, tracking weaker iron ore prices, while gold was off by around 3%. Crude prices fell too but came sharply off their earlier lows.

Energy

Crude Oil Forecast: Oil Erases October Rally- Key Support in View

Oil prices plunged nearly 15% off the monthly high with WTI now approaching key technical support at the yearly lows. A multi-timeframe view of the Oil technical charts.

Oil refinery

Crude oil forecast: WTI path remains bearish as election risks loom

Crude oil forecast: Oil prices have shown some recovery, bouncing over 1% in early Monday trading, before easing a little off their earlier highs. However, after last week’s steep 9% decline, the broader outlook remains bearish, especially while WTI crude stays below the critical $70 mark. Could oil prices dip toward $65 in the days ahead?

Research

AUD/JPY looks set for a breakout, crude oil mulls bounce from $70

With Wall Street indices holding up and Australia's strong employment report holding up the Aussie in a weak-yen environment, AUD/JPY looks set for a breaking. Crude oil looks ready for a cheeky bounce too.

Crude Oil Technical Forecast: Oil Spill Searches Support

Oil prices plummeted more than 7.3% today with WTI poised for an outside day reversal- risk for further losses. A multi-timeframe view of the Oil technical charts.

USD reverses, gold-bulls eye 2700, crude oil falters ahead of US GDP

Traders appear to be booking profits ahead of a key US GDP report later today, with the USD index providing a solid bounce from 100. Gold might reach for 2700 (even if it does look stretched), while crude oil could be in for a deeper pullback.

Oil_rig

Crude oil outlook: WTI shrugs off stockpiles data as growth concerns linger

EIA rude stockpiles data helped to push WTI oil a little off its earlier lows, but it struggled. We maintain a slightly bearish crude oil outlook, especially if WTI breaks back below the $70 on a daily closing basis. Should that happen, it could potentially pave the way for a deeper drop amid follow-up technical selling and given existing concerns about rising supply and lack of a sharper demand growth.

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September 25, 2024 04:00 PM
Oil extraction

Oil Price Technical Forecast: WTI Bulls Emerge

Oil prices surged 11.3% off the monthly low with WTI now testing resistance. A weekly opening-range breakout is imminent. A multi-timeframe view of the technical charts.

Oil refinery

Crude Oil Outlook: Oil Climbs Alongside Broader Market Sentiment

Crude Oil Outlook: With the initiation of the Fed's easing monetary policy cycle, market sentiment is trending upward, pushing oil prices back above the $70 mark.

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September 20, 2024 08:36 AM

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Oil refinery

Crude Oil Forecast: Weak Demand and Growing Bearish Sentiment

The overall crude oil forecast remains clouded by weak demand, particularly from China, and rising supply pressures. As speculators turn increasingly bearish and technical signals point to further downside, oil prices could continue to face headwinds in the near term.

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September 16, 2024 05:31 PM
Research

Being short USD looks like a stale trade: COT report

There has been a lot of hype over a dovish Fed, for quite some time. Yet asset managers (real money accounts) remain net long. I suspect we're a lot closer to the end of the USD bear case than the beginning.

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September 16, 2024 05:48 AM
Oil drilling in sea

Oil Price Technical Forecast: WTI in Free Fall

Oil prices plunged to fresh yearly lows with WTI in free fall after breaking a multi-year consolidation pattern. A multi-timeframe view of the oil technical charts.

Energy

WTI crude oil looks stretched at these lows

While it shows the potential to keep falling should current market positioning trends persist, a bounce could in in order first.

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September 10, 2024 01:34 AM
Oil_rig

Crude oil analysis: WTI heading to sub-$70?

Hopes that the US driving season would propel prices to new 2024 highs this summer failed to materialise as demand remained weak in key economic regions like China. At the same time, the OPEC+ appeared content with plans to increase output from the fourth quarter.

Graphic of trading data chart

EUR/USD, WTI crude oil analysis: Flash PMIs in focus

If service PMIs from Asia are anything to go be, we could be in for some upside surprises from Europe and the US. And that places EUR/USD and WTI crude oil onto our radar.

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August 22, 2024 05:31 AM