OPEC output has increased significantly since the pandemic. China’s manufacturing activity contracted in August due to new COVID-19 restrictions. US crude stocks declined in the past week, showing increased demand in the US. Early Asian trading on Thursday saw a decline in crude oil (CL) futures prices, driven by rising supply and concerns that the Read More…
Potential short-term bullish reversal on CL Short Trade running out of steam Bullish divergence forms on MACD Bulls vs Bears On the 4-Hour chart, we clearly see a consolidation zone forming on the CL chart between $87 and $95. This is happening after a two-month downtrend. The swing indicator is showing lower lows are being Read More…
OPEC+ may reduce output to support oil prices. Iran’s nuclear program deal is at a standstill. Oil prices increase after a drop in US crude oil inventories. The possibility of output reduction, the partial suspension of a US refinery, and growing supply fears due to delays in Russian exports drove up crude oil (CL) futures Read More…
Long, medium, and short-term charts pointing to potential short Limited upside potential if the bear case does not play out Dynamic Money Flow Showing Weakness Medium-term picture Crude Oil futures (CL) has been in a beautiful downward trend since mid-June, giving multiple short entries for those patient enough to wait for retracements. We are approaching Read More…
US crude stocks fell by 7.1 mln barrels in the past week. Russia to boost oil output in the wake of strong Asian demand. The market anticipates Iran’s response regarding its Nuclear proposal After reaching a six-month low, crude oil prices increased on Wednesday by approximately 1.5% as concerns over rising Russian output and exports Read More…
Last week saw an uptick in US gasoline consumption. US oil refiners and pipeline operators forecast higher energy demand in the second half of 2022. Russia resumes oil supply to Europe via the Druzhba pipeline. Investors flocked to riskier assets in response to lower-than-expected US inflation statistics and promising news on US gasoline consumption. According Read More…
