Crude Oil

Crude Oil Outlook: Oil prices retested the 2024 starting point as markets dropped. Aligning with the market’s latest rebound, is another positive track sustainable?

Risk appetite made a swift comeback when the Fed opened the door to beginning their rate-cut cycle in September. The question is whether Wall Street indices, gold or WTI crude can extend their gains.

Crude Oil Forecast: Oil’s track to 74 was halted by positive US GDP and declining inventories. What’s next for FOMC and NFP Week?

Stronger GDP, core durable goods orders and the drop in oil inventories have all helped to alleviate demand concerns somewhat, reducing the pressure on oil prices. After today’s reversal-looking price candle, our crude oil forecast has turned modestly bullish.

Crude Oil Forecast: Following bearish sentiment driven by weaker-than-expected Chinese economic growth, a drop in the US Dollar, the Houthi attack on an oil tanker in the Red Sea, and a decline in crude inventories, oil prices have rebounded above the $82 mark.

Crude Oil Analysis: With the Dollar’s stability and the correction of Chinese economic growth figures, oil is sliding below critical support zones.

Crude Oil Analysis: Oil continues to trend within its primary consolidation phase, awaiting a significant fundamental catalyst to break out in either direction.

Crude oil prices turned high on the session, with Brent finding good support from $84.00 and WTI around $80.50. We are still anticipating higher oil prices due to slower output growth in H2, which should means a tighter oil market. Therefore, our crude oil forecast remains bullish.

Tuesday looms as a great day to wait and observe the price action in WTI crude following another powerful surge, leaving the benchmark at a key level it struggled to overcome in the past. Its performance may provide a strong signal on whether to get onboard the bullish move or get setup for shorts on a possible swing top.

Despite weaker-than-expected industrial data from China overnight, which should have raised concerns about demand, crude oil prices have rallied more than 1.5% today, building on the 3.5% to 4.0% increase from the previous week.

Market positioning shows an influx of shorts hitting crude oil, in what now looks like a cycle low. And whilst bulls are eying a break of $80, they could benefit from a pullback first.

It is possible we could see crude oil prices come under pressure again after the recent recovery. After all, there are several factors that are likely to limit the upside potential from here, including increased non-OPEC supply, which is undermining the OPEC+ efforts to stabilise the markets.

Crude Oil, Natural Gas Analysis: Crude Oil is tracing its largest gain since March, while Nat Gas is breaking through 6-month highs.

Crude oil surges 8% in four sessions. But volumes were nowhere near as bullish as the price action would suggest. Given its struggles above these levels, waiting for a topping pattern to go short is favoured.

While there is hope for increased fuel demand as we head deeper into the US driving season, today’s recovery comes on the back of a three-week drop amid concerns over demand in China and rising non-OPEC supply. So, it remains to be seen whether the recovery can hold. The crude oil forecast will be under spotlight when the Fed make a decision on interest rates later this week.

The crude oil selling resumed on Friday after a two-day respite, although the losses were not as severe as those observed earlier in the week and far less forceful than the drop in metals. This is because a strong jobs report and services PMI data both helped to reduce fears over weakening demand in the US...

Crude Oil and Gold Outlook: Contrarian investors seek opportunities