WTI is moving higher and is approaching the $ 42 level. Optimism about vaccines seems to be present in the oil market. USD weakness benefits oil prices ahead of EIA crude stock data. The WTI (NYMEX futures) is extending its bounce during the European session on Wednesday, supported by a recovery in risk appetite sentiment […]
Tag: WTI
WTI surpasses $ 41 after bouncing from lows of $ 40.50
WTI futures trim losses after falling to lows of $ 40.50 Oil prices remain heavy on fears of further lockdowns. WTI oil remains biased to the upside while above $ 40. WTI futures for the first month they have risen during the US trading session on Thursday to return to $ 41. The West Texas […]
UAE Energy Minister Says Members Must Meet Their Commitments Before Extending Production Cuts
The Energy Minister of the United Arab Emirates has told the OPEC + panel that all members must meet oil reduction commitments before agreeing to any changes to an extension of the current agreement, Reuters reported Tuesday citing OPEC + sources. . Donald WestbrookDonald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess […]
OPEC + must be prepared to act according to market requirements
“We are seeing a good recovery in oil demand in China and India,” the Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, Reuters reported. The minister also thanked the United Arab Emirates and Angola for the good levels of compensation with oil production cuts. “OPEC + must be prepared to act according to market requirements,” […]
Looking for the triangle breakout before the OPEC + meeting
WTI is heading higher amid a descending triangle on the 1 hour chart. Optimism over vaccines eases concerns about economic growth and oil demand. All attention is focused on the OPEC + meeting and the weekly data for US crude stocks. The WTI (futures on NYMEX) has caught new purchases in the last hour as […]
WTI rises to the $ 42.00 zone due to risk appetite, OPEC +
WTI prices retest the $ 42.00 level on Monday. Traders expect OPEC + to keep oil production cuts unchanged. Weekly crude oil supply reports from API, EIA will be released later in the week. West Texas Intermediate barrel prices they managed to reverse the recent decline and returned towards the $ 42.00 zone on Monday. […]
Bearish bias remains intact
Oil recovers about $ 1 in today’s session due to risk appetite in the markets. The bias is still bearish and prices are moving below a downtrend line. US WTI oil prices are moving higher on Monday along with risk appetite on global stock markets. West Texas Intermediate WTI crude, the benchmark for North American […]
Attempts a bounce at 1.3100 after the rising wedge breakout
USD / CAD recovers above 1.31 amid a bullish crossover of moving averages. The pair has seen a breakout of the ascending wedge on the 1 hour chart. The 1.3127 level is likely to challenge the recovery. USD / CAD is attempting to rebound from a dip below 1.3100 as the bulls struggle to regain […]
WTI extends its pullback to levels near $ 40
The reversal of WTI futures from $ 43 extends to $ 40. Coronavirus fears and Libyan output weigh on oil prices. WTI futures the first month have depreciated for the third day in a row on Friday, returning to the $ 40 area. A combination of COVID-19 fears and increased production from Libya have affected […]
WTI within a tight range above $ 40.00 before data
WTI prices are within a tight range on Friday. Demand concerns continue to weigh on raw materials. Baker Hughes’ weekly oil rig count is next on the economic agenda. Crude oil prices They extend their slide through Friday, although sellers have so far failed to drag prices below $ 40.00 a barrel. WTI weaker due […]
