Weekly Oil Report: Fluctuations Confused Commodity Traders
Volatile market of crude oil kept most of the commodity traders in limbo. While the trend of crude is hard to guess bitumen market is thriving. Brent closed at $95.82 and WTI settled at $88.91 on Friday, 11 Nov. Oil headed down since the first day of the week. The recovery that happened in the […]
Weekly Oil Report: More Crude Bullishness by New IEA Reports
Above 4% growth of crude during the first week of November made many hopefuls for $100 oil. Bitumen and fuel had lively markets as well. Brent closed at $98.57 and WTI settled at $92.44 on Friday, 4 Nov. October, as expected, brought oil growth after 4 months of fall. November also opened with positive sentiments. […]
Weekly Oil Report: Economic Turmoil and Political Tensions Evoke Crude
Crude, stalled in the range of 92 to 94 during the last week of October, shows that the market is still confused. Bitumen and fuel, however, tend to be rising. Brent closed at $94.14 and WTI settled at $88.28 on Friday, 28 October. On the weekly chart, it seems that the lower low in September […]
Weekly Oil Report: Uncertainty by Mixed Signals Hit Traders Again
The crude oil market acted uncertainly toward all the bearish and bullish factors in the market. But the uncertainty is not only for oil. Brent closed at $93.46 and WTI settled at $85.13 on Friday, 21 October. On the weekly chart of WTI, uncertainty is clear in the last candle. Buyers and sellers were both […]
Weekly Oil Report: Quick Drop of Commodities
Crude oil fell by over 6% during the week. But Bitumen surprisingly increased or stayed steady. Brent closed at $91.62 and WTI settled at $85.60 on Friday, 14 October. As you can see in the weekly chart of WTI, the fall was nearly half the former growth. It seems that the price is retreating as […]
Weekly Oil Report: Is the Price Really on a Hike?
Crude oil had the biggest weekly growth since March 2022 and it shocked the market. Bitumen also got hot last week. Is this really a change of trend? Brent closed at $98.33 and WTI settled at $93.13 on Friday, 7 October. In the daily chart of WTI, we can detect a hidden divergence in MACD […]
Weekly Oil Report: Geopolitical Risks adds Up to Energy Crisis
The oil market was confused deciding on the trend. The price moderately grew during the week but September closed with over a 10% plunge in the price. Brent closed at $85.29 and WTI settled at $79.67 on Friday, 2 October. The price is still loyal to the former wedge. But it is showing the signs […]
Weekly Oil Report: Dark Shadow Stays Despite Possibilities of Growth
The week was full of surprises and oil continued to come lower. Bitumen traders had orders coming despite the moderate fall. Brent closed at $86.71 and WTI settled at 79.30 on Friday. You can see how the price is still trapped in the marked area. In the daily chart, there is a slight weakness, making […]
Weekly Oil Report: Fluctuations Happens with Fears and Uncertainties
Falling and growing back was the recap of oil in the second week of September. Bitumen also had fluctuations but demand did not stop. Brent finally closed at $91.53 and WTI settled at $85.28 on Friday. WTI stalls in the region of 90 to 81 moving between two yellow convergent lines. In the Daily chart […]
Weekly Oil Report: Chaos Formed by Mixed News
All Markets lingered in shock of oil as crude suddenly fell by 8% and quickly recovered after. The bitumen market, though, stayed active. Brent finally closed at $92.11 and WTI settled at $86.19 on Friday. On the daily chart, you can see how sharply WTI plunged on Tuesday and Wednesday. Traders were all shocked as […]