Market Analysis – April 6th USOil trades with strong resilience. USOil has demonstrated strong bullish momentum, with the buyers showing determination to push the price higher. Despite some potential slowdowns in their impulse, the bulls remain focused on their target of reaching the key level of 90.00. This resilience in the face of selling pressure […]
Shell, the oil supermajor, expects a sharp decline in its liquefied natural gas trading business in the first quarter of 2024, following a strong performance in the fourth quarter of the previous year. Additionally, it informed shareholders on Friday of its anticipation for oil trading results to surpass those of the last quarter of 2023 […]
The United States has secured 2.8 million barrels of crude oil for its national emergency oil reserve, aiming to replenish dwindling supplies. The Energy Department has been gradually refilling the Strategic Petroleum Reserve, which had reached a 40-year low. In response to soaring retail gasoline prices in 2022, the Biden administration authorized the release of […]
Saudi Arabia and the United Arab Emirates’ state-owned oil companies aim to extract lithium from brine within their oilfields, as part of their strategy to diversify economies and capitalize on the rise of electric vehicles (EVs). Saudi Arabia, traditionally dependent on oil, has allocated billions towards becoming a center for electric vehicles (EVs) in line […]
Market Analysis – February 2nd USOil bears continue to clash lower as momentum grows. The market has been responding to bearish sentiment, and there is a possibility of further downward movement. The sell pressure has been intense for several days, indicating a growing bearish momentum. USOil Key Levels Resistance Levels: 82.520, 77.970Support Levels: 69.760, 67.870 […]
Participants in the commodity market will closely examine the Federal Reserve’s policy guidance in the upcoming week. Investors are on edge as the Federal Open Market Committee (FOMC) and the Bank of England (BoE) prepare for their upcoming meetings. The fluctuating risk sentiments stem from the latest US economic data and China’s plans to boost […]
Market Analysis – January 26th The price of USOil is currently showing weakness as it approaches the significant zone of 77.380. The Oil price opened with a sharp decline after reaching this key level, indicating the presence of sellers in the market. As a result, buyers are likely to struggle for some time. The bulls […]
Market Analysis – January 13th USOil consolidate as bulls make solid gains this week following a bearish purge last year. The USOil market is currently in a consolidation phase, despite the solid gains made by the bulls this week. The bulls have shown reasonable strength, but the oil market has been reluctant to break out […]
Market Analysis – January 6th USOil buyers intercept sellers, creating the potential for bullish action.The bearish course of WTI (USOil) has encountered obstacles due to a lack of significant liquidity flow. This week, buyers have seized a trading opportunity from sellers. This resulted in a quick drive from the 69.300 significant level and a revival […]
