Crude oil prices are on the defensive after a failed attempt to extend the recent rally above $ 39.00 a barrel of a. Credits: Forex Street Donald WestbrookDonald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts […]
Tag: Petroleum
EIA crude oil stocks change by -8 million, WTI rises to $ 39
The change in crude oil stocks in the US was -8 million barrels in the week ending October 30, revealed on Wednesday the weekly report published by the US Energy Information Administration (EIA). The analysts’ estimate was for an increase of 0.9 million barrels. Market reaction The barrel of West Texas Intermediate it rose slightly […]
WTI clings to gains above $ 38.00 ahead of EIA report
WTI prices add to weekly earnings above $ 38.00. Traders remain focused on demand, OPEC +, pandemic. The API reported a drop of 8 million barrels late on Tuesday. US benchmark prices for a barrel of light crude dulce they extend the weekly high, although it is still trading below $ 39.00. WTI now attentive […]
WTI Extends Hike Above $ 38.00 Before API, US Elections
WTI prices rise further and return to the critical $ 38.00 level. Risk sentiment anticipates a victory for Joe Biden in Tuesday’s election. API will report on US crude oil inventories later in the American session. Crude prices they extend the optimism seen at the beginning of the week and recover the level $ 38.00 […]
WTI extends bounce back to the $ 38 level ahead of API data and US elections.
WTI breaks consolidation to the upside amid risk appetite in the European session. Russian producers can support the extension of OPEC + production cuts. The focus is on API crude stock data and the outcome of the US elections. The WTI (NYMEX futures) has resumed the previous day’s upside rebound after consolidating during the Asian […]
Struggle with the 21-hour SMA on its way to recovery from 5-month lows
WTI struggles to close the bearish opening gap. A firm breakout above the 21-hour SMA is critical for the bulls. US oil remains vulnerable amid demand and election concerns. WTI (NYMEX futures) is attempting a tepid recovery from the five-month lows of $ 33.85 reached early in the Asian session on Monday, as the bulls […]
WTI Holds Near Multi-Month Lows At $ 35 Following Baker Hughes Report
WTI futures remain near multi-month lows at $ 35. Oil prices are down around 11% on the week due to coronavirus concerns. Baker Hughes reports sixth consecutive weekly rise in US oil rigs. WTI futures for the first month They remain near multi-month lows at $ 35.35 set for a weekly 11% decline as the […]
OPEC production increases 210,000 bpd in October Reuters
The oil production by the countries of the Organization of Petroleum Exporting Countries (OPEC) increased by 210,000 barrels per day (bpd) in October, Reuters reported. The increase in production in Libya and Iraq stands out. OPEC states complied with 101% of cuts agreed between OPEC and allies (OPEC +) during October. The United Arab Emirates […]
WTI collapses to $ 35.00, new 4-month lows
WTI prices fall about 6% to the $ 35.00 area on Thursday. Fast-spreading pandemic, USD strength weighs on crude oil. The weekly EIA report (Wednesday) adds to supply concerns. Crude oil prices accelerate the decline to the area of ​​multi-month lows in the $ 35.00 zone. Weaker WTI on demand, supply concern WTI prices fall […]
WTI consolidates losses near three-week lows at $ 37
WTI futures fall nearly $ 2 to three-week lows at $ 37.00. Oil prices plunge amid concerns about the consequences of the second wave of COVID-19. The EIA reports an increase in US oil stocks. WTI futures The first month have depreciated nearly $ 2 on Wednesday, falling back to a week’s lows of $ […]