WTI fluctuates in a potential rectangle pattern on the day chart. The daytime RSI is flat while in the bearish region. WTI (NYMEX futures) is fading its recovery attempt in Thursday’s European session as risk-off sentiment dominates amid rising coronavirus cases in Europe and diminishing prospects for a trade deal fiscal stimulus in the US […]
Tag: WTI
WTI further weakens, returns below $ 41.00 ahead of EIA report
WTI prices lose traction to the upside and fall below $ 41.00. The increase in coronavirus cases undermines the outlook for oil demand. The EIA’s weekly report on US supplies will be next on the economic agenda. US Reference Barrel Prices for Light Sweet Crude they remain defensive and revisit the area below $ 41.00 […]
WTI rebound loses steam and retreats towards $ 41 ahead of EIA data
Tone of weakness in stocks limits WTI rebound. API data showed an increase in US crude inventories, today EIA data. The WTI (future in NYMEX) stopped the corrective retracement that began at the highs of the month at $ 41.88, in the zone of $ 41.00 in the last hours. It reached the lowest level […]
Aiming for resistance at the $ 41.72 level
WTI is recovering from daily lows and is targeting resistance from the September 18 high at $ 41.72. Technical indicators on the daily chart favor a breakout above the key hurdle. Prices for the West Texas Intermediate (WTI), North America’s benchmark oil index, is currently trading at $ 41.48, up 0.43% on the day. Black […]
WTI extends consolidation around $ 40.00 before API report
WTI prices are moving within the usual range around $ 40.00. The next major resistance emerges around $ 41.50, monthly highs. Below is the API’s weekly crude oil supply report. WTI barrel prices they extend the consolidation mood for yet another session on Tuesday, always around the key $ 40.00 level. WTI attentive to the […]
WTI climbs back above $ 41 level before API data
WTI is looking to retest the monthly highs of $ 41.47. The USD weakens as risk appetite sentiment improves ahead of the US fiscal stimulus deadline. The OPEC + meeting offered no signs of further production cuts. The WTI (NYMEX futures) is moving higher during the European session on Tuesday, as the bulls struggle to […]
WTI retreats from monthly highs near $ 41.50 before OPEC + meeting
WTI returns an initial move at $ 41.45, still near monthly highs. US oil is virtually unchanged on the day amid below-expectations China’s GDP and bullish equity markets. OPEC + will discuss the weakening outlook for oil demand. He WTI (NYMEX futures) back from monthly highs near $ 41.47 and remains virtually unchanged on the […]
WTI Crude Oil Drops From Session Highs Toward $ 40.00 Following Baker Hughes Data
WTI futures are down from session highs near $ 41 after the Baker Hughes report was released. US oil rights increase for the fifth week in a row. Crude prices are stable around $ 40. WTI prices They are falling from session highs at $ 40.90 after Baker Hughes reported the fifth consecutive rise in […]
EIA Crude Oil Stocks Change to -3.8 Million in the Week Ending October 9
The change in crude oil stocks in the US it was -3.8 million barrels in the week ending October 9, the weekly report released by the US Energy Information Administration (EIA) revealed Thursday. The analysts’ estimate was for a decrease of 2.8 million barrels. Market reaction Crude oil prices recovered modestly after this report, but […]
WTI drops to 2-day lows near $ 39.40 ahead of EIA report
WTI prices fell below $ 40.00. The API reported an unexpected drop of 5.4 million on Wednesday. The weekly EIA report appears next on the economic agenda. Crude oil prices erase the recent advance to highs beyond the $ 41.00 per barrel mark and fall to 2-day lows in the region of $ 39.40 on […]
