Oil rebounded on Thursday due to an unexpected draw in crude inventories. However, prices ended near a two-week low on Wednesday as downward pressure from demand concerns and easing Middle East tensions persisted. China’s weak economic performance has led to a downgrade in the global oil outlook. Meanwhile, the calm between Israel and Iran has Read More…
Fears of Iranian oil disruptions and Hurricane Milton in the US boosted oil prices on Thursday. In the previous session, prices fell due to a bigger-than-expected increase in US crude oil inventories. Oil eased on Wednesday after the US released data showing a 5.4 million barrel rise in crude inventories. Meanwhile, economists had predicted a Read More…
Introduction In our earlier analysis, I mentioned key levels in CL crude futures, focusing on a support zone between $66-$71 and a potential breakout above $78.04. There was an expectation of a rally towards higher targets if the price successfully broke above the descending trendline and the 100-week EMA. With escalating geopolitical tensions involving Iran Read More…
Oil prices have rallied since Wednesday due to supply concerns stemming from increased tensions in the Middle East. However, a build in US crude inventories indicated weak demand, weighing on prices. Brent futures (Source: ICE) The conflict between Iran and Israel escalated when Iran fired 180 missiles at its opponent. Meanwhile, Israel vowed to hit Read More…
Fundamentals WTI crude futures rose 1.56% to $70.92 per barrel late Tuesday as fears of oil supply disruptions grew after Iran launched ballistic missiles at Israel. Iran fired over 180 missiles in retaliation for Israel’s campaign against Hezbollah in Lebanon, escalating tensions in the oil-rich region. ANZ Research noted Iran’s involvement raises concerns about potential Read More…
Introduction Crude oil prices have been falling recently due to a combination of factors. One major reason is the slowing demand from China, which has been experiencing economic challenges, particularly in its real estate sector and a growing shift towards electric vehicles. As one of the largest consumers of oil, any slowdown in China significantly Read More…
