Weekly Oil Report: Crude Rises as China’s Demand Climbs
The moderate recovery of China led to a light growth of crude and Bitumen market became hopeful for more increase. Brent oil closed at $87.58 and WTI settled at $81.66 on Jan 20. Oil price is at a critical point as it is shown on the daily chart. Two long-term trend line has collided in […]
Weekly Oil Repot: Weakness Shadow over the Market
Oil climbed despite the weakness while bitumen stayed almost steady in most of the regions. Brent oil closed at $85.36 and WTI settled at $80.00 on Jan 13. On the daily chart of WTI, the price is near the top line of the wedge. You can see the possible resistances on the chart. Price had […]
Weekly Oil Report: Slow Movements of Markets
Financial markets started 2023 on Wednesday and crude oil only fell further. Bitumen stayed in the former price ranges in most areas. Brent closed at $ 78.47 and WTI got to $ 73.64 on Friday, 6 January. You can review the probable support and resistance on the shown daily chart of WTI. The price could […]
Weekly oil Report: Silent Markets of January
Crude oil and all the other markets were quiet and dull in the last two weeks due to the Christmas Holidays. Brent oil closed at $85.95 and WTI settled at $80.42 on Dec 31. Watch the technical analysis of crude: The freezing days in the US and the hectic spread of covid in China were […]
Weekly Oil Report: Weak Markets At the End of 2022
Crude oil moves weakly as it gets closer to the end of the year. Bitumen and petroleum products continue with relative stability. Brent closed at $84.49 and WTI settled at $79.39 on Friday, 16 Dec. Watch crude oil technical analysis: In 2022, WTI started at $ 75 and it is ending the year at $ […]
Weekly Oil Report: The New Struggle, UP or Down?
Traders have been hesitant to buy crude oil. Meanwhile, the bitumen market was alive in the Middle East. Brent closed at $79.16 and WTI settled at $74.47 on Friday, 16 Dec. As shown in the last week’s chart, the wedge is still valid. The price is near the bottom line and it shows a weakness […]
Weekly Oil Report: Sudden Fall of Oil and More Uncertainties
Petrochemicals and fuel fell further along with oil. Crude got to its lowest price in 2022. Brent closed at $76.63 and WTI settled at $71.47 on Friday, 9 Dec. The market was determined about the fall despite suitable fundamentals for growth. Price is currently in a delicate region. As you can see in the daily […]
Weekly Oil Report: Fear Rising by Tensions in Markets
A bit of growth in crude oil could not fade the fear in the market. Fuel and bitumen were almost downward. Brent closed at $85.90 and WTI settled at $80.21 on Friday, 2 Dec. Crude oil, as expected last week, had a slight comeback after a moderately sharp fall. The price movement was […]
Weekly Oil Report: Conflict of Market Directions in Crude and Petroleum Products
Crude oil had another sharp decline but bitumen stayed confused with the trend. Brent closed at $83.79 and WTI settled at $76.53 on Friday, 25 Nov. Watch the technical analysis of WTI: The third week ended for oil with a sharper fall. The downward momentum is strong and we can expect lower prices in the […]
Weekly Oil Report: Battling with Market Imbalances
Crude oil’s sudden plunge caused a confusing market with mixed directions in Bitumen and other petroleum products. Brent closed at $87.82 and WTI settled at $80.14 on Friday, 18 Nov. Watch WTI Technical Analysis: The expected double-top pattern was almost completed in the week! The fall was quick and it left a long tail for […]