Indian refiners have begun paying for Russian oil via Dubai traders in UAE dirhams
An interesting weekend item from Reuters about oil, but also about circumventing trade payments in the dominant USD – helping Russia to de-dollarise its economy. Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars India’s top bank, the State Bank […]
WTI Crude Oil: Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023
2023.02.03 2023.02.03 WTI Crude Oil: Elliott wave analysis and forecast for 03.02.2023 – 10.02.2023 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider short positions from corrections below the level of 82.38 with a target of 63.00 – 54.50. Alternative scenario: breakout and consolidation above the level of 82.38 will allow the asset to continue rising to the levels […]
Crude Oil Price Under the Pump in the Face of Fed, ECB and BoE Hikes. Lower WTI?
Crude Oil, US Dollar, WTI, Brent, FOMC, Fed, BoE, ECB. OPEC+ China – Talking Points Crude oil prices have found some support after a tumultuous week The Fed, BoE and ECB tightening has raised recession concerns OPEC+ maintain its target while China resurfaces. Where to for WTI? Recommended by Daniel McCarthy Get Your Free Oil […]
Oil Prices Fail to Hold Post-Fed Gains, Charts Look Heavy
Crude Oil Price, Chart, and Analysis Oil prices made fleeting gains after US rates rose as expected Major producers agreed to extend their production cuts on Wednesday US inventories rose by much more than expected Oil prices slipped back in Thursday’s European session after short-lived gains in Asia following the United States Federal Reserve’s quarter-point […]
Oil Majors: Pause or Beginning Of The End?
Oil Majors See Record Profits in 2022The explosion in profits for energy companies over 2022 was one of the key headlines in the equities space. In 2022 overall, leading US energy companies Exxon and chevron made a combined $100 billion in profit, recording their best years on record. Against this backdrop, both companies saw their […]
Oil prices rise as US recession fears over rate hikes ease, dollar weakens
Oil prices climbed on Wednesday underpinned by a weaker dollar, which fell on signs of slowing inflation in the United States, easing fears that the world’s largest oil user may face a recession because of further interest rate hikes. Brent crude futures gained 20 cents, or 0.2%, to $85.66 a barrel […]
Traders struggle to cheer China, IMF news, softer Oil price amid mixed details
Asia-Pacific equities trade mixed, grinding lower of late as traders remain cautious ahead of top-tier data/events. Upbeat China PMI, IMF growth forecasts join Covid-linked headlines to underpin bullish bias. Mixed concerns surrounding China, due to downbeat Industrial Profits, sour sentiment in India and hawkish BoJ talks probe equity buyers. S&P 500 Futures hesitate in extending […]
WTi crude oil settles at $77.90
Crude oil falls away from its 100 hour MA and swing area Looking at the daily chart above, the price highs over the last 8 or so trading days have been skimming near the 100 day MA (blue line) at $81.88. The high price on Friday reached above that MA but could not reach the […]
Market nervous before huge week of earnings and Fed announcement
Here is what you need to know on Monday, January 30: Markets are pretty quiet this morning as we have a lot to get through this week. Overnight, equities in Asia were weak as risk-off was the main theme. The Hang Seng closed down nearly 3%, while the Nikkei was flat. No surprise here given we […]
Crude Oil Price Firms as Markets Appraise Fed Hiking Against China Re-opening
Crude Oil, WTI, Brent, FOMC, Fed, BoE, ECB. OPEC+ China, Contango – Talking Points Crude oil prices found some support today as China returns from holidays Offsetting Chinese optimism, the Fed, BoE and ECB are set to hike this week OPEC+ will be meeting on Wednesday and contango remains in play for WTI Recommended by […]