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…
Crude oil futures trading sideways ahead of the OPEC+ meeting. The demand for crude oil decreases amid a poor global economy. The crude oil price is technically within a pennant, looking for a bearish breakout. Following a drop of 1% in the previous trading session, crude oil (CL) futures prices were flat on Wednesday ahead Read More…
US dollar weakens after FOMC meeting. Risk sentiment remains positive amid a better-than-expected earnings report. Crude oil inventories significantly drop. Today’s crude oil (CL) futures price analysis is bullish as investors are willing to take risks. Crude stocks went down, and gasoline demand in the US increased, which helped prices rally today. “Risk sentiment has Read More…
