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WTI Oil is rebounding off four-month lows on renewed expectations the Fed may cut interest rates by 50 bps. Supply closures from Hurricane Francine which is ravaging the Gulf of Mexico are another bullish factor. WTI is forming short-term bullish reversal patterns on the daily and weekly charts. West Texas Intermediate (WTI) crude Oil price […]
WTI price falls to fresh YTD lows of $68.85 in Thursday’s early Asian session. OPEC+ could delay the planned oil output increase. Concerns of weak demand from China weigh on the WTI price. West Texas Intermediate (WTI), the US crude Oil benchmark, is trading around $68.85 on Thursday. WTI price remains under selling pressure and hits […]
WTI price loses ground near $75.15 in Thursday’s early Asian session. Soft demand in China weighs on the WTI price. The threat of supply disruptions in Libya and Middle East geopolitical risks might cap the downside. West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $75.15 on Thursday. The WTI price edges […]
WTI falls to the $74.00 level as lower demand from China, the world’s largest Oil consumer weighs. The weakness comes despite a Libyan political faction shutting down all the country’s Oil production. OPEC+ is expected to increase production which could bring down the equilibrium rate of WTI. West Texas Intermediate (WTI), the US Crude Oil […]
WTI trades in positive territory for the third consecutive day near $76.75 in Tuesday’s early Asian session. Libya’s shutdown of production and exports fuelled fresh supply concerns, boosting the WTI price. The sluggish Chinese economy and oil demand concerns might cap the black gold’s upside. West Texas Intermediate (WTI), the US crude oil benchmark, is […]
United States Baker Hughes US Oil Rig Count unchanged at 483 Source link
Commodity Trading Advisor (CTA) trend followers have pummeled crude oil markets over the last sessions, Daniel Ghali, TDS Senior Commodity Strategist, notes. Oil bulls face challenges from the supply-side “While algos have just a few more bullets to fire, CTAs are now approaching their effective ‘max short’ positions in crude markets, with several consecutive whipsaws now diminishing the […]
USD/CAD extends its losing streak for the fourth trading session on Wednesday. Investors await the FOMC minutes for fresh interest rate cues. The Canadian Dollar outperforms despite multiple headwinds. The USD/CAD pair tests territory below the round-level support of 1.3600 in Wednesday’s North American session. The Loonie asset weakens as the Canadian Dollar (CAD) outperforms […]
Oil price on the brink of flipping a negative performance into a positive one for this Monday’s trading day. Prices retreated earlier as traders focused on Chinese demand fears and efforts to get a ceasefire deal in Gaza. The US Dollar Index eases further after hedge funds go long on the Japanese Yen, which appreciates […]
Large-scale CTA selling activity is hitting the tapes in crude oil markets, TDS Senior Commodity Strategist Daniel Ghali notes. CTAs to shed their entire position long in Brent crude “We expect CTAs to shed their entire position long in Brent crude this session and build a net short position, with additional scope to sell WTI […]
Oil price jumps higher for a fourth consecutive day on Monday. Traders send Oil prices higher on trimmed demand outlook from OPEC. The US Dollar Index trades at a pivotal level after being glued to it since last week. Oil price jumps higher for a fourth straight day in a row on Monday. Oil traders […]
