Weekly Oil Report: Surprising Twist of Political Fundamentals
Another week passed with uncertain traders in oil markets. Watch crude oil technical analysis: The price continued struggling in the same range as the last couple of weeks. On Friday, Brent closed at $82.11 and WTI settled around $77.75. The shown support held on with a long shadow tail. The sentiment is mixed and price […]
Weekly Oil Report: Mixed Trend Happening Due to Uncertainty
Breaking News: Iran’s president, Ebrahim Raeesi, was found dead at a helicopter crash site with his foreign minister and others. According to the national press, no one survived the crash. Watch crude oil technical analysis: On Friday, Brent closed at $83.90 and WTI settled around $79.46. The chart of oil has not changed much as […]
Weekly Oil Report: Markets Slowly Rising As Brent Stays Above 82
Oil prices closed low but slightly improved compared to last week. Watch crude oil technical analysis: China’s oil imports have increased by 5.5% since April 2023. Chinese robust demand is making new sparks in oil markets and it caused Brent futures to record a weekly gain. US government continues SPR recovery. With WTI prices at […]
Weekly Oil Report: Sudden Changes of Rates Following Less Tensions
Crude oil ended April flat and started May with a loss due to easing Middle East tensions. In the last two weeks, Brent could hold above $ 89, however, it didn’t last long. On Friday, Brent closed the week at $82.78 with a $ 7 decrease and WTI settled around $77.93. Oil prices have touched […]
Weekly Oil Report: Market Stays in Favour of Bulls
Crude oil slowed down with some reports about an invetory build in the Middle of the month. These possibility is making traders a little hesitant. However, StanChart has forecast that demand will increase in May and June in favor of bulls. StanChart believes that OPEC will not increase supply either. The overall sentiment of the […]
Weekly Oil Report: Uncertain Tensions Continue in Middle East
On 19 April 2024, Israel launched a limited strike on Iran. The attack didn’t have much damage; therefore, it didn’t cause more tensions. Watch on YouTube: Oil prices had a sudden drop before the attack but recovered slightly after it. Staying above $80, Brent closed the week at $87.15 and WTI around $82.07. Market is […]
Weekly Oil Report: Iran Retaliatory Attack Intensifies Region Tensions
Late on Saturday, Iran launched hundreds of missiles and drones on Israel in response to Israeli airstrike on Iran Damascus Embassy. Watch on YouTube: According to reports, attacks only targeted military bases in Israel and didn’t have serious casualties. Israel response will play a huge role in escalation of disputes. China and the US are […]
Weekly Oil Report: Geopolitical Risks Pushed Brent Above $90
Oil continued rocketing higher in the first week of April by about 5% growth. Brent closed at $90.87 and WTI settled around $86.67. Watch crude technical analysis and comment your ideas: The current candle pattern looks to be imaging previous upward movement so we might expect a correction similar to one after it. The idea […]
Weekly Oil Report: Rising Trend Continues in Crude
Oil closed March with over 6% growth. On Friday, Brent closed the week at $86.92 and WTI settled around $83.06. Rally of oil continued to the day before Good Friday. Watch crude technical analysis and comment your ideas: Brent price took off after touching 38% Fib level. If the purchasing power stays unchanged, there can […]
Weekly Oil Report: Strong Demand Projections Boosting Positive Sentiment
Oil hiked above $ 80 after 4 months. On Friday, Brent closed the week at $85.52 and WTI settled around $80.74. Watch crude technical analysis and comment your ideas:Bullish sentiment could override the tense zone to start a new rising leg. New high and low are shown on the chart. Since the zone was properly […]