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Brent crude oil

US oil may retest support at $65.46
Markets

US oil may retest support at $65.46

  • The reversal of the uptrend from $33.64 has been more or less confirmed. A retracement analysis on the trend suggests a target zone from $55.31-$60.42
Published 10 Aug, 2021 11:22am
Oil rises on optimism about demand outlook
Markets

Oil rises on optimism about demand outlook

  • Brent crude was up by 52 cents, or 0.7%, at $73.38 a barrel.
  • We have had those stock draws for a couple months, the market is heading in the right direction ... my impression it is not a super cycle.
Published 15 Jun, 2021 05:34pm
Brent oil may fall more to $67.14
Markets

Brent oil may fall more to $67.14

  • In either case, oil is expected to retrace further over the next few days. Only a rise above $69.87 could confirm the continuation of the uptrend towards $71.38.
Published 06 May, 2021 11:58am
Oil falls as Suez opens, focus turns to OPEC+ output
Markets

Oil falls as Suez opens, focus turns to OPEC+ output

  • Brent crude was down $1.02, or 1.6%, at $63.96 a barrel by 1334 GMT. West Texas Intermediate US oil was off by $1.16, or 1.9%, at $60.40 barrel.
  • "The wobble we have seen in prices means that OPEC+ will likely need to take a cautious approach once again," bank ING said. "We are of the view that the group will likely hold output levels unchanged."
Published 30 Mar, 2021 09:07pm
Oil rises as Suez Canal ship runs aground, demand fears weigh
Markets

Oil rises as Suez Canal ship runs aground, demand fears weigh

  • API says US crude inventories rise 2.9 million barrels.
  • Germany's Merkel says drops plan for stricter Easter shutdown.
  • Sentiment still bearish after other pandemic curbs in Europe.
  • Ship in blocked convoy in Suez Canal on move- source and witness.
Published 24 Mar, 2021 08:20pm