WTI remains under pressure following Thursday’s US inflation data. Strong resistance below $ 85.00 remains intact, psychological support at $ 80.00. Several headwinds led to a sharp drop in oil prices on Wednesday. The negative tone extends to Thursday. A barrel of WTI is trading at $ 80.55, falling just under 1%. It is at […]
Tag: WTI
OPEC + will keep the policy of gradually increasing production of 400,000 bpd unchanged
The Iraqi Oil Minister, Ihsan Abdul-Jabbar Ismail, said on Thursday that the group of the Organization of the Petroleum Exporting Countries and its allies (OPEC +) is expected to keep unchanged its policy of gradually increasing oil production from 400,000 barrels a day at the December meeting, Reuters reported. . The minister added that they […]
WTI cuts Tuesday’s profit and falls below $ 84.00
Crude stock data on Tuesday pushed WTI to a two-week high. Price encountered resistance at $ 84.50 and failed to sustain above $ 84.00. Ahead: US data, plus inventory. The The price of a barrel of WTI is falling on Wednesday after hitting $ 84.95 earlier, the highest level since October 25. The price retraced […]
WTI advances considerably above $ 82.00 per STEO report showing oversupply in early 2022
WTI bounces away from lows of $ 80,900, gains of $ 1.50. The EIA cut the forecast for oil demand for 2022. WTI Technical Outlook: Bullish pennant on the 4-hour chart, $ 86.00 targets. The Western Texas Intermediate, also known as WTI, advanced in the American session, rising almost 2%, trading at $ 82.93 per […]
WTI rises marginally Tuesday, fails to claim above $ 82.50 ahead of key report
WTI rises but modestly on Tuesday, bullish tone loses strength. Expectation grows due to the report of monthly EIA estimates before the decision on strategic reserves. The a barrel of WTI oil is rising modestly on Tuesday, completing three consecutive days with rises, but already showing signs of possible exhaustion. The price of a barrel […]
WTI rises past $ 82.00, to highs since Thursday
Oil prices gained traction for the second consecutive session on Monday. Prospects for increased energy demand continued to support the rebound. The price of WTI crude oil extended Friday’s rise and gained momentum. It is climbing for the second session in a row on Monday. The momentum pushed spot prices to two-day highs around the […]
WTI returns above $ 80, but taking a breather after recent price swings
Oil has risen above $ 80 again, but trading has been calmer on Friday. Traders await a response from the United States after OPEC + ignored calls for a further increase in production. After significant volatility in recent days, US oil prices are enjoying calmer trading on the last day of the week, having ignored […]
WTI retreats sharply from daily highs above $ 83.00, OPEC + agreed to a production increase of 400,000
WTI has fallen sharply from the previous session’s highs above $ 83.00 to $ 81.00. OPEC + agreed, as widely expected, to go ahead with an increase in oil production of 400,000 in December. According to sources cited by Reuters, OPEC +, as widely anticipated, agreed to stick to its existing plan to increase production […]
WTI declines sharply towards $ 80.00, the biggest drop since August
Oil prices have fallen dramatically in recent trading, with the WTI now at $ 80.00. News that nuclear talks between Iran, the EU and the US will restart at the end of the month has exacerbated the slide. Oil prices have been falling dramatically in recent trade. The previous month’s futures contracts for the US […]
USD / CAD Maintains Gains Above 1.2400 Amid WTI Slump and Before Fed
USD / CAD maintains a two-day uptrend amid a pause in the USD advance. The WTI retreats after a weekly increase in US crude reserves and cautious sentiment. The focus is on the Fed’s decision, US economic data also remains in the spotlight. The USD / CAD remains above 1.2400, flirting with four-day highs near […]