Petroleum

WTI prices are moving back from the highs just below $ 64.00. The EIA reported a drop of nearly 6 million barrels on Wednesday. Baker Hughes will release its weekly tally of US oil rigs later on Friday. US benchmark…
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The Crude oil stocks change in the US was -5.9 million barrels in the week ending April 9, as revealed this Wednesday the weekly report published by the US Energy Information Administration (EIA). The result worsened…
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Oil continues uphill on the week and a barrel of WTI is up 1.10% on Wednesday. It reached $ 61.28, the highest level since Apr 4.
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In your last monthly report, the Organization of the Petroleum Exporting Countries (OPEC) raised its forecast for global oil demand growth in 2021 to 5.95 million barrels per day (bpd) from 5.89 million (bpd) in the…
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Crude oil prices continue to fluctuate within a narrow range. WTI falls below $ 60.00 with a stronger US dollar. Rising coronavirus cases amid the extension of restrictions dampens the outlook for oil demand. Crude…
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Crude oil markets continue to see range-limited trading conditions, and first-month WTI futures remain locked between the $ 59.00 to $ 60.00 ranges. The undecided trading conditions are not too surprising given the…
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Crude oil prices continue to fluctuate in a narrow range. WTI remains below $ 60 amid optimism and virus concerns. After suffering heavy losses at the beginning of the week, crude oil prices rebounded, after which they…
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Sellers turn back after WTI meets solid resistance just below the 200 hourly SMA. The RSI is trading flat while above the bullish zone, which keeps buyers hopeful. WTI (NYMEX futures) has halted its recovery rally…
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After suffering heavy losses on Monday, oil prices experienced a technical correction, and showed difficulties in gaining momentum.
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WTI sellers are back in the markets after rejection of the 50-day SMA resistance at $ 60.32. US oil could risk a slide towards the rising trend line support at $ 57.85. The RSI remains flat within the bearish zone,…
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