Russia’s global energy leverage is lessening as full-scale war in Ukraine nears 1-year mark
Russian President Vladimir Putin‘s use of energy as a weapon of financial war is increasingly backfiring, threatening the core of Russia’s beleaguered economy and curtailing its geopolitical influence. Western sanctions, falling prices for Russian fossil fuels and strategic miscalculations are hurting the country’s oil-and-gas industry while the war in Ukraine is poised to stretch into a […]
Oil Boosted as China Reopens!
Oil prices had their biggest weekly gain since last October. This came amid cooling inflation in the US and an improved outlook for growing demand from China. Following China’s reopening, will we now see crude hit $100 before Q1 is over? Timestamps WTI 01:40 BRENT 03:05 The post Oil Boosted as China Reopens! appeared first […]
Baker Hughes Oil rigs up 5 in the current week
> Baker Hughes Oil rigs up 5 in the current week The weekly Baker Hughes rig data Total rigs: Up 3 rigs to 775 Oil rigs: Up 5 rigs to 623 Gas rigs: Down -2 rigs to 150 ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT – CONTINUE READING BELOW Most Popular ADVERTISEMENT – CONTINUE READING […]
WTI crude oil settles at $79.86
Crude oil prices testing the downward sloping trendline The price of WTI crude oil is settling at $79.86. That is up $1.47 or 1.88%. The high for the day is not far from the sell price at $39.89. The low was down at $77.97. For the trading week, the prices of 8.15% after closing last […]
WTI Crude Oil: Elliott wave analysis and forecast for 13.01.2023 – 20.01.2023
2023-01-13 2023-01-13 WTI Crude Oil: Elliott wave analysis and forecast for 13.01.2023 – 20.01.2023 Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/ Main scenario: consider short positions from corrections below the level of 94.22 with a target of 63.00 – 54.50 once the correction is completed. Alternative scenario: breakout and consolidation above the level of 94.22 will allow the asset to […]
WTI struggles to extend recovery towards $79.00, optimism remains on softer US inflation
Oil prices have turned sideways after failing to extend recovery to near $80.00. The black gold price has not run out of steam as the US administration is ceasing oil supply to China. Falling US inflation has triggered odds of a slowdown in the pace of the Fed’s policy tightening. West Texas Intermediate (WTI), futures […]
Crude Oil Price Forecast & Predictions for 2023-2025 and Beyond
2023-01-09 2023-01-09 Crude Oil Price Forecast: 2023 and Beyond Jana Kanehttps://www.litefinance.org/blog/authors/jana-kane/ The oil price is an important indicator of the economy. Oil is the most used resource in the world; many wars have raged over black gold. The cost of crude oil is closely monitored by everyone – especially since the corona crisis; many investors […]
Crude Oil Futures ( CL1! ), H4 Potential for Bullish Rise
Type: Bullish RiseKey Levels:Resistance:81.06Pivot:73.40Support:74.33Preferred Case:Looking at the H4 chart, my overall bias for CL1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 81.06, where the previous highs are. Alternative Scenario:Price may head back […]
Crude Oil Posts Biggest Rally Since November 4 with CPI Volatility Ahead
US Oil, Interest Rates and Recession Talking Points: The Market Perspective: WTI Oil Range Between 80 and 70; Oil Bearish Below 70 WTI crude oil has worked its way back into a technical situation between a prevailing bear trend from June and uneven technical support between 70 and 72 The upcoming CPI release will likely […]
Crude Oil Price Steadies the Ship Despite the Fed Staying on Course. Where to for WTI?
Crude Oil, WTI, Energy, Europe, FOMC, Fed Minutes, Contango – Talking Points Crude oil prices found some support today after solid US jobs data on Friday The Fed still have its work cut out for them and that might weigh on WTI Some structural aspects of futures could be saying something. New lows for WTI? […]