Weekly Oil Report: Covid Helped Biden with Crude
New fears have shocked markets of stocks and commodities. Crude oil that surprised traders by the rapid rally during recent weeks, stood as the leader of the plunge. Brent was closed at $71.65 and WTI Fell to $68.16 on Friday. The sharp falling movement and closing under the relative support might indicate more decrease during the […]
Weekly Oil Report: Situation Turns Against Crude Rally
Bearish news could take over the few bullish factors of the market during last week. Brent oil closed the week at $77.69 and WTI fell to $75.64 at the end of the market on Friday. The gap between Brent and WTI has slightly increased again. Technically, the price has not passed over the critical $76 […]
Weekly Oil Report: Hesitations Lingering in the Markets
Oil was still under pressure by dollar powering, possible supply increase, and next year demand outlook. Accordingly, Brent finished the week with a loss at $81.14 and WTI at $80.82 on Friday. Although bearish factors have mounted, options traders are still betting on higher prices around $250. It is vividly clear for every market participant […]
Weekly Oil Report: Bullish and Bearish Aspects of the Market
After the third week of oil fall, the market began the week with a slight bullish gap. Brent and WTI closed the week at $81.73 and $81.34 on Friday. Technically speaking, the chart is still on an uptrend and there is strong resistance at $79. There are both bullish and bearish factors on the market. […]
Weekly Oil Report: Fundamentalists Are still in Fond of Crude
Oil experienced the second week of loss at the end of October. The fall can be considered as a price correction after several consecutive weeks of gains. Therefore, fundamentalists are not much worried about Brent closing at $83.28 and WTI at $83.28 on the last session of the Market. On Monday, prices fell again after […]
Weekly Oil Report: Slight Hesitation Crawling to the Market
After weeks of the rapid rally, oil market participants showed slight reluctance to buy crude at the current levels. Although it got to $85.48 at the first of the week, Brent closed at $84.68 and WTI closed the week at $84.15 on Friday. However, it does not exactly mean the end of the rally. Reports […]
Weekly Oil Report: Energy Crisis Worsens Along Crude Rapid Rise
Oil had another gaining week and succeeded to reach near $85. The price has not been seen in the market for a long time. Brent closed the week at $84.24 and WTI could get to $82.47 on Friday. On Monday, the market continued the rising path. At the time of writing the report, Brent achieved […]
Weekly Oil Report: Reasons of Crude Price Rebound
The market was extremely positive about oil conditions after knowing supply is still under control. While the US had asked OPEC to increase the supply to reduce the oil sharp growth, OPEC did not consent to boost production significantly. After the meeting, Brent took back the three-year high and closed at $82.05 On Friday. WTI […]
Weekly Oil Report: Crude Waiting For OPEC
Oil took the rally to $80 in the last week of September and had the 4th week of gains. Brent closed the week at $78.80 and WTI took over $75.72 on Friday. The market situation has both strong bullish and bearish sentiments. Bulls of the market still believe that prices will hike as the dollar […]
Weekly Oil Report: Crude Appeared Determined to Rise
Oil took back the highest price in the last two months then retreated slightly on Friday session. Traders preferred profit-taking seemingly or consider the crude just overvalued at the stated levels. Ultimately, Brent closed at $76.99, and WTI touched $73.96 at the end of the trading session of 24 September. Crude closed the third week […]