TAG: co-wti-crude-oil
Crude Oil Price Forecast: Poised for Further Gains After a Rest
Crude oil completed a five-day advance on Monday with a high of 80.33. A 61.8% Fibonacci retracement was also completed at 79.97, while the 50-Day MA was at 79.58. Crude was able to close above the 50-Day line but not the Fibonacci level. Moreover, yester...
2 months ago
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back As Traders Take Profits After Rally
Natural GasNatural Gas 130824 Daily ChartNatural gas pulls back as traders take profits after the strong rebound from August lows.If natural gas settles back below the $2.15 level, it will head towards the nearest support, which is located in the $2.00 –...
2 months ago
ASX 200: Tracks US Rally, Tech and Gold Stocks Lead Gains
US Equity Markets: Caution Turns to OptimismThe US equity markets had a positive Tuesday, August 13, session. The Nasdaq Composite Index and S&P 500 rallied 2.43% and 1.68%, respectively, while the Dow gained 1.04%.Starbucks (SBUX) surged 24.50%, cont...
2 months ago
Natural Gas and Oil Forecast: WTI Nears $79; Upward Channel Signals a Buy?
Market OverviewOil prices rose on Wednesday, driven by a larger-than-expected draw in U.S. stockpiles, as reported by the American Petroleum Institute. U.S. oil inventories dropped by 5.2 million barrels in the week ending August 10, far exceeding expecta...
2 months ago
Will Gold Prices Hit Another All-Time High In August?
Gold Stable Ahead of Inflation Data: Fed’s Rate Hesitancy and Recession Warnings IntensifyGold prices are currently holding steady in wait-and-see mode as traders turn their attention to this week’s highly anticipated U.S Inflation figures for clues on th...
2 months ago
Oil News: Crude Oil Outlook Bullish Amid Geopolitical Tensions, Inventory Drops
Oil Prices Hold Steady Amid Geopolitical Risks, Inventory Draws, and Inflation ConcernsLight crude oil futures saw a modest uptick on Wednesday, stabilizing after a sharp sell-off the previous day. Prices are currently hovering near the crucial 50-day mov...
2 months ago
Crude Oil Price Forecast – Crude Oil Pulls Back Slightly
WTI Crude Oil Technical AnalysisThe crude oil market has pulled back just a bit in general, and the West Texas Intermediate found itself below the $77 level in the early hours of Wednesday. However, we do see a little bit in the form of support at this po...
2 months ago
Crude Inventories Rise By 1.4 Million Barrels, Exceeding Analyst Expectations
On August 14, 2024, EIA released its Weekly Petroleum Status Report. The report indicated that crude inventories increased by 1.4 million barrels from the previous week, compared to analyst consensus of -2 million barrels.Total motor gasoline inventories...
2 months ago
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats As Crude Inventories Rise
Natural GasNatural Gas 140824 Daily ChartNatural gas made another attempt to settle above the resistance at $2.25 – $2.30 as traders prepared for the EIA report, which will be released tomorrow.In case natural gas climbs above the $2.30 level, it will hea...
2 months ago
Natural Gas and Oil Forecast: WTI Eyes $77.25; Will Trendline Support Spark a Buy?
Market OverviewOil prices rose slightly on Thursday, driven by optimism that potential U.S. interest rate cuts could stimulate economic activity and fuel demand. This followed a more than 1% drop on Wednesday, prompted by an unexpected rise in U.S. crude...
2 months ago
Oil News: Crude Rebounds on Rate Cut Hopes but Bearish Demand Outlook Looms
Oil Prices Rebound on Rate Cut Hopes but Global Demand Concerns LingerOil prices edged higher on Thursday, partially recovering from Wednesday’s losses as traders bet on potential U.S. interest rate cuts to boost economic activity and fuel demand. However...
2 months ago
Crude Oil Price Forecast – Crude Oil Continues to Attempt to Rally
WTI Crude Oil Technical AnalysisThe West Texas Intermediate Crude Oil Market rallied just a bit during the early hours during Thursday trading as the market has found the area right around the $75.50 level as support. It’s likely that the market is going...
2 months ago
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds As Traders Focus On U.S. Economic Data
Natural GasNatural Gas 150824 Daily ChartNatural gas pulls back despite the bullish EIA report, which indicated that working gas in storage declined by 6 Bcf from the previous week.In case natural gas pulls back below the $2.15 level, it will head towards...
2 months ago
Crude Oil Price Forecast: Eyes Bullish Signal as Support Levels Hold
Crude oil has been testing support around the 20-Day MA for the past couple of days. The pullback low from the recent trend high of 80.33 was at 77.29, and today’s low was 77.32. Also, the dip has been testing support around the 38.2% retracement at 77.24...
2 months ago