Brent Crude Oil Taking Advantage of Weaker USD, IEA Outlook & Supply Interruptions
BRENT CRUDE OIL (LCOc1) TALKING POINTS & ANALYSIS All eyes point to Fed Chair Jerome Powell for guidance later today. Future crude oil demand emphasized by IEA report while interruption at key export terminal in Turkey backs crude oil prices. Key resistance zone under pressure. Recommended by Warren Venketas Get Your Free Oil Forecast BRENT […]
Crude Oil Prices Spooked by US Data, IEA Report as WTI Turns to EIA Inventories
Crude Oil, WTI, IEA Report, US Retail Sales, EIA Inventories – Talking Points: Crude oil sinks the most in 2 weeks as soft US data scares traders Meanwhile, an IEA report underscored 2023 global supply glut bets Focus shifts to EIA weekly stockpiles as WTI faces triangle pattern Recommended by Daniel Dubrovsky Get Your Free […]
IEA Sees Global Oil Demand Hitting A Record High In 2023
China’s reopening is set to drive global oil demand to a record high of 101.7 million barrels per day (bpd) this year, up by 1.9 million bpd from 2022, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate for 2023 by 200,000 bpd from 1.7 million bpd growth expected in December. […]