Share: WTI crude oil prices declined following the start of a truce in the Gaza Strip. OPEC+ postpones crucial meetings, sparking speculations of potential oil production cuts for 2024. Global factors like higher US crude stockpiles, China’s uncertain oil demand, and non-OPEC production growth contribute to Oil price trends. West Texas Intermediate (WTI),
The global market for Petroleum will have a slight supply surplus in 2024, even if OPEC+ nations extend their cuts into next year the head of the International Energy Agency’s petroleum markets and industry division told Reuters. Read too At the moment, however, the oil market is in deficit and inventories are
Share: USD/CAD seems biased to move downward despite the weakening in Crude oil prices. WTI prices lose ground on an unexpected delay in an upcoming OPEC+ meeting. US economic data turn investors to perceive persistent inflation in the country. USD/CAD seems to extend its losses for the third consecutive session, trading slightly lower
JP Morgan expects Brent crude oil prices to remain flat in 2024, averaging $83 a barrel down in 2025, averaging $75 per barrel for this year, 2023 sees average $81 More: in 2023 demand is on track to grow by 1.9 million barrels a day, with non-OPEC supply is expected to surpass this with a
JP Morgan expects Brent crude oil prices to remain flat in 2024, averaging $83 a barrel down in 2025, averaging $75 per barrel for this year, 2023 sees average $81 More: in 2023 demand is on track to grow by 1.9 million barrels a day, with non-OPEC supply is expected to surpass this with a
Oil Analysis and Charts Oil prices continue to slide on demand worries. The technical outlook remains biased to the downside. Recommended by Nick Cawley How to Trade Oil DailyFX Economic Calendar US oil is down nearly 16% in the last month and over 23% in the last seven weeks as sellers continue to control price
The price of crude oil tumbled $3.76 or 4.9% at $72.90. The low price reached the $72.22. The high price was up at $76.58. The low price i reached its lowest level going back to July 7. At the low, the price tested the low of 8 swing area between $72.30 and $73.31. The price
US Crude Oil Analysis and Charts • Crude prices remain above recent lows • Demand forecasts have been tweaked higher • Strong downtrend still dominates the daily chart Download our Free Guide to Help You When Trading Oil Recommended by David Cottle Understanding the Core Fundamentals of Oil Trading Crude oil prices gained a little
Share: WTI prices are up for Friday, but Crude Oil remains significantly down from recent highs. Market fears about declining demand have replaced fears of spill-over from Gaza Strip conflict. Friday bidding likely a spot of profit-taking rather than outright reversal. West Texas Intermediate (WTI) Crude Oil prices have rebounded 2.8% on Friday,
US crude futures settle at $77.17. That’s up $1.43 or 1.89% on the day. For the trading week, oil prices are trading up around 2.07% The high for the day reached $77.69. The low price reached $75.36. Catalysts include: Concerns over global growth took precedence in the market, overshadowing geopolitical risks in the Middle East.
