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…
Oil prices fell on Wednesday and Thursday as concerns about supply disruptions in Libya eased after a deal to end the conflict. At the same time, market participants were worried about a planned increase in Saudi Arabia’s oil production. Oil chart (Source: Bloomberg, ICE) Libya, a significant oil producer, had slashed production due to conflict Read More…
Introduction It’s time again to look at the overall picture of CL futures and where we see it heading. The price is still hovering inside the support zone at $68, a level that has been tested and held since the start of 2023. Now, it looks like bulls could be targeting a move back up Read More…
Oil prices recovered on Thursday after falling in the previous session due to a super-sized Fed rate cut. However, Middle East tensions kept a floor on price declines. At the same time, crude inventory data showed a bigger-than-expected decline. WTI futures (Source: Bloomberg) On Wednesday, the US central bank cut interest rates by 50-bps, catching Read More…
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Oil prices recovered slightly on Thursday after collapsing in the previous sessions. Prices suffered on Tuesday and Wednesday as investors grappled with fears of a recession in the US. At the same time, a likely end to the dispute in Libya lowered the chances of a tighter market. On Tuesday, oil collapsed by 5% after Read More…
