Oil futures on NYMEX rebounded from the weak Chinese PMI data induced slump and rallied as investors now turned their focus on decline in US oil drilling. WTI eyes USD 50 and Brent hover around USD 55 Currently, WTI oil trades 3.26% higher at USD 49.82/ barrel and Brent trades 3...
On Monday crude oil futures were heavily pressured, as fears over the global economic outlook and the impact on future oil demand prospects undermined the commodity sentiment...
Brent crude oil futures held above $48 a barrel on Thursday as investor inflows offset data showing that U.S. crude stocks had hit a record high...
Outlook in Crude Oil remains on the downside as long as 46.00 resistance holds on a 4 hour closing basis , support comes at the 43.59 levels , a halt is likely but a cut would open 42.00 next , further down will target the 40.00 levels. On the upside , resistance comes at the 46...
Crude oil touching the Bottoms forming Bullish wedge expected to complete @ $43 ,Breakout upside will bring higher prices towards $46 to $51...
US DOLLAR TECHNICAL ANALYSIS Prices are testing pivotal resistance marked by a peak dating back to March 2009. This barrier is reinforced by the 38.2% Fibonacci expansion at 11888, with a break below that on a daily closing basis exposing the 50% level at 11983...
Abdullah al-Badri, OPEC Secretary-General, said oil prices may have bottomed out, also warning there exists a risk of a future jump to $US200 a barrel if investment in new supplies was too low. After his comments, Brent crude oil prices traded above $US48 on Tuesday...
The Secretary General of OPEC, El-Badri, said today that the oil market is oversupplied by 1.5 million barrels per day, while expressing hope that the market will recover in time...
Oil dropped to the lowest level in almost six years on Monday as signs that Saudi Arabia’s new king will maintain the oil policy of his predecessor and rising U.S. crude stockpiles bolstered speculation that a global glut will linger...
As Europe 2nd largest Economy sliding due to in deflation cycle and will take a year to get move in inflation cycle may be for short term ,and news headlines flashing Global crude oil supply gluts ,Now only hopes on China PMI will be positive this week to boost Crude oil prices as oil prices touc...
On Tuesday West Texas Intermediate oil futures sold off steeply, after the International Monetary Fund reduced its global economic growth forecast and China’s economy expanded at its slowest pace in 24 years...
Looks Elliote Waves A-B-C corrections where Wave C is about to complete Support @ $46.00 . Price Need to break Resistance $49 to move more Upside...
As $ Oil making Elliote wave Flat zig-zag Corrections A-B-C , Currently moving in Wave C ,will take years to complete @ $29...
On Tuesday oil markets descended, as China's economic growth for 2014 undershot a government goal and touched its weakest annual expansion in 24 years, contributing to worries in energy markets already suffering from slowing demand and oversupply...
“Saudi Arabia can sustain these low oil prices for at least eight years. First, we have huge financial reserves of about 3tn Saudi riyals (£527bn...
On Monday Brent crude oil prices dropped below $50 a barrel after Iraq announced record oil production darkening the global economic outlook. On Sunday Iraqi Oil Minister Adel Abdel Mehdi announced Iraq pumped 4 million barrels per day (bpd) of oil in December, its highest production ever...
Oil prices steadied on Thursday, firming as the dollar weakened, though OPEC and Bank of America Merrill Lynch reduced forecasts of demand for its oil this year. Oil and other commodities are priced in dollars and are likely to gain when the U.S. currency declines...
On Thursday Russian President Vladimir Putin is holding talks with his Venezuelan counterpart Nicolas Maduro, who will arrive in Russia on a working visit...
As the World Bank cut its economic growth forecast, oil prices declined 1 percent helping extend a rout that saw prices touch a nearly six-year low the previous session...
On Tuesday oil traded below $45 a barrel, influenced by speculation that U.S. crude stockpiles will increase and a prediction from OPEC’s fifth-largest member that prices will not rebound soon...
