Weekly Oil Report: Unclear Fate of Tensions Makes More Uncertainties
On October 27, Brent oil closed at $88.77 and WTI settled around $85.11. Watch crude technical analysis and comment your ideas: Market sentiment has been shifting daily based on the tensions and news. Traders are deep in confusion. While big financial organizations are talking about 3-digit numbers for oil, it recorded a week of loss […]
Weekly Oil Report: Prices Rising Under the Shadow of Intensifying War
On October 20, Brent oil closed at $92.32 and WTI settled around $88.28. Watch crude technical analysis and comment your ideas: The Middle East geopolitical tensions sent crude oil higher for the second week. The price is above 50 MA and the purchasing power is rising. Brent is reaching a strong resistance at 96 but […]
Weekly Oil Report: Middle East Tensions Shaking the Markets
On October 13, Brent oil closed at $90.90 and WTI settled around $87.68. Both crude benchmarks headed for a gain this week. Watch crude technical analysis and comment your ideas: Prices started soaring on Monday due to the Hamas-Israel war. It actually pushed the prices to open with a 2-3 dollar gap. Broken through the […]
Weekly Oil Report: Sudden Shocks Bring More Complexity
October shocked the market in the 1st week. Crude oil fell by over 8% in the last several days. On Friday, Brent oil closed at $84.37 and WTI settled around $82.74. Watch crude technical analysis and comment your ideas: Since March, crude oil didn’t have any sharp drop. The selling pressure is still strong and […]
Weekly Oil Report: Positive Sentiment Still Has the Markets
On Sep 29, Brent oil closed around $92.07 and WTI settled at $90.71. Technically, the market expected oil prices to slow down after reaching the 96-dollar resistance. The news about the US rising production and the coming OPEC meeting added up to resistance. On the weekly chart, you can see the price supports at 90 […]
Weekly Oil Report: Rising Trend Continues In Petroleum Products
On Sep 22, Brent oil closed around $92.19 and WTI settled at $90.29. Watch crude technical analysis and comment your ideas: When the price touched the 38% fib level, traders started profit-taking. This led to a 2% price correction that can continue to 90. The bullish sentiment has not worn off but it is shaken […]
Weekly Oil Report: The Unstoppable Growth Continues
On Sep 15, Brent oil closed at $94.20 and WTI settled around $91.17. Watch crude technical analysis and comment your ideas: Crude recorded a 9-month high with a weekly growth of around 5%. These constant gains are making hopes for seeing 100 in 2023. The daily candles are strong and the purchase power is bullish. […]
Weekly Oil Report: Supply Restrictions Driving Crude Higher
On Sep 8, Brent oil closed at $90.39 and WTI settled around $87.18. Watch crude technical analysis and comment your ideas: Crude oil finally broke through the 10-month resistance shown in blue. It has got to 90 and it may get to 92. On the weekly chart, the price closed above the 23% fib level […]
Weekly Oil Report: Mixed Signals With Crude New High in 2023
On Sep 1, Brent oil closed at $88.88 and WTI settled around $85.98. Watch crude technical analysis and comment your ideas: Crude oil made an effort to exit the sideway channel after a long time. But with the current evidence, it is soon to give up the selling area thoroughly. The daily attempt was fairly […]
Weekly Oil Report: Headwinds Coming Towards Crude
On August 25, Brent oil closed at $84.07 and WTI settled around $79.97. Watch crude technical analysis and comment your ideas: Brent gained about 2% on Friday following Powell’s Speech after a couple of bearish days. Fed Chair Powell held a hawkish tone at the Jackson Hole Symposium. “The lower monthly reading for core inflation […]