The price of WTI crude oil futures are settling at $79.83. That’s up $0.78 or 0.99%. For the week, the price-1.03% or $-0.87 (at current levels). It is the 2nd consecutive week to the downside after last week’s decline of -3.04%. Crude oil Looking at the chart above, at the lows this week, the price
Crude Oil, WTI, Brent, Fed, Powell, Jackson Hole, US PMI, EIA – Talking Points The crude oil price is treading water as markets await Fed views Weak US PMI data appeared to overwhelm EIA inventory figures Markets are poised for clues from the Fed. Will WTI break support? Recommended by Daniel McCarthy Traits of Successful
OIL PRICE FORECAST: Oil Mixed Today Following an Improved European and US session as Sentiment briefly improved. US Rig Count for Week Ended August 18 Drops to 520 from a Previous 525. Technicals Flashing Mixed Signals with Overall Improvement in Sentiment needed for a Sustained Push Higher. To Learn More About Price Action, Chart Patterns
Share: WTI increased more than 1% on Friday and found resistance near $81.30, above the 20-day SMA. US Oil and natural rigs decreased for the sixth week in a row. The USD trading neutral allowed the black gold to gain traction. Chinese financial woes may limit the WTI’s upwards momentum. At the end
Share: US crude oil benchmark, WTI, rises for the third consecutive day, trading at $83.48, up by 0.80%. Oil demand is predicted to grow by 2.25 million bpd in 2024, down from 2024’s 2.44 million bpd, according to OPEC+. Weakness in China’s economy could dent oil demand. Western Texas Intermediate (WTI), the US
Crude Oil, WTI, Brent, API, EIA, LNG, Woodside, USD/JPY, EUR/JPY, Hang Seng – Talking Points Crude oil surges on energy market supply concerns around LNG Japanese Yen continues to weaken with EUR/JPY eclipsing a recent peak Financial markets appear poised for action as they await impending US CPI today Recommended by Daniel McCarthy Understanding the
Crude Oil, WTI, Brent, OPEC+, Federal Reserve, EIA, API, Trend, Double Top – Talking Points Crude oil has been chasing new highs this week as supply cuts kick in OPEC+ production cuts appear to be having the desired effect The Fed may have paused but policy tightness might be with us for a while Recommended
OIL PRICE FORECAST: Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: What is OPEC and What is Their Role in Global Markets? Oil prices finished last week strong as a weaker US Dollar on Friday helped keep prices supported.
Share: WTI crude oil prints three-day winning streak to poke yearly high marked in April, sticks to daily gains of late. OPEC+ production cuts join price-positive statements from Saud Arabia, Russia to underpin Oil price run-up. Hopes of easy rates, China stimulus and US Dollar’s pullback add strength to WTI run-up. This week’s
Share: WTI rose above $83.00 to its highest point since mid-April, seeing more than 1.70% gains. The WTI barrel will set a sixth consecutive winning streak, and indicators flash overbought conditions. The USD weakened following NFPs figures revealing a deceleration of job creation in July. At the end of the week, the West
