Oil prices fell 4% on Wednesday after the US Federal Reserve increased interest rates and as investors worried about the economy. Oil fell by 5% in the previous session, experiencing its largest daily percentage fall since early January. The Fed lifted interest rates by a quarter of a percentage point on Wednesday afternoon. This rate Read More…
Oil fell by about 4% on Wednesday as concerns about the world’s largest economy’s impending recession deepened. Oil fell even after a survey revealed that US crude stocks decreased more than anticipated. Energy Information Administration data showed that US oil stockpiles declined by 5.1 million barrels last week to 460.9 million. It was above analyst Read More…
Overview Crude Oil has been an interesting one to watch this year as we see prices bounce around within the $70 and $80 range. Range-bound traders have been able to capitalize on these moves while trend traders have been struggling. Technical analysis The gap has been filled that we mentioned last week. The bears have taken Read More…
Oil prices fell by almost 2% on Wednesday, hitting a two-week low on worries that Fed rate hikes in the United States, the world’s largest oil consumer, might reduce oil consumption. Europe’s persistently high inflation rate and China’s mixed economic indicators discouraged investors. China is the world’s largest consumer of crude oil. That was the Read More…
Technical recap In our previous article, we looked at the fact that it was difficult to make a call on the direction of CL futures. It is sometimes just a better option to do nothing than force things. This is something we must learn in trading and investing, or else we take the ego-based, fight-or-flight Read More…
Oil prices rose by 2% on Wednesday, reaching their highest level in over a month. Cooling US inflation data raised optimism that the Federal Reserve would soon end its cycle of interest-rate hikes. This optimism Overshadowed a slight increase in US crude oil inventories. After increasing by 0.4% in February, the US Consumer Price Index Read More…
