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Category: Oil

  • What an oil war in the Middle East could look like

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    Investor Empires

    Breadcrumb Trail Links Energy Oil & Gas Financial Times Israel is considering attacks on Iranian energy sites, for which Iran might then retaliate, affecting global supplies Author of the article: Financial Times Myles McCormick in Houston, Jamie Smyth in New York and Tom Wilson, Shotaro Tani and Steven Bernard in…

  • Asia shares fall, oil set for weekly gains on Mideast risks By Reuters

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    Investor Empires

    By Ray Wee SINGAPORE (Reuters) – Asian stocks fell on Friday while oil prices headed for their biggest weekly gain in more than a year, as rising tensions in the Middle East kept markets on edge ahead of the U.S. jobs report due later in the day. US President Joe…

  • Oil price climbs to 6-week high, breaks key resistance levels

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    Investor Empires

    The price of crude oil rose today and broke above the double top on the hourly chart as well as the 50% midpoint of the move down from the August 13 high. These levels come in at $72.36 and $72.67, respectively. A break to the upside took the price towards…

  • Chart Art: WTI Crude Oil (USOIL) Is Testing A Key Area Of Interest!

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    Investor Empires

    After the sharp rise seen earlier this week, US crude oil prices are back in the main area of ​​concern. Is the second time a charm for WTI bulls? We take a closer look at the 4-hour time frame! West Texas Intermediate (USOIL) 4 hours Chart by TradingView In case…

  • Stocks fall, safe haven assets rally with oil as Iran fires on Israel By Reuters

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    Investor Empires

    By Sinead Caro and Yoruk Bahçeli (Reuters) – The MSCI global stock index fell along with Treasury yields on Tuesday as investors shied away from riskier assets, while oil futures rose on concerns about supplies after Iran fired missiles at Israel. However, Wall Street stocks finished above session lows, and…

  • Chart Art: WTI Crude Oil (USOIL) Still Stalling Around Area of Interest!

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    Investor Empires

    WTI Crude Oil Traders Can’t Make Up Their Mind! The energy commodity is still trading in its visible zone of interest on the 4-hour time frame, with several inflection points extending across the area. Will the trend continue in the long term? Crude Oil WTI (USOIL) Forex 4 Hours Chart…

  • Oil survey of inventory shows huge headline crude oil draw, much greater than expected

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    Investor Empires

    Via oil price dot com on Twitter: — The predictions I saw focused on: Main crude oil -1.4 million barrels Distillates -1.1 million barrels Gasoline -0.02 million — This data point is taken from a special survey conducted by the American Petroleum Institute (API). It is a survey of oil…

  • Oil firms evacuating US Gulf of Mexico staff as major hurricane looms By Reuters

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    Investor Empires

    HOUSTON (Reuters) – U.S. oil producers scrambled on Monday to evacuate employees from oil platforms in the Gulf of Mexico as the second major hurricane in two weeks was expected to hit offshore oil fields. A potential tropical cyclone in the Caribbean is expected to rapidly strengthen over the warm…

  • Oil firms evacuating US Gulf of Mexico staff as major hurricane looms By Reuters

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    Investor Empires

    HOUSTON (Reuters) – U.S. oil producers scrambled on Monday to evacuate employees from oil platforms in the Gulf of Mexico as the second major hurricane in two weeks was expected to hit offshore oil fields. A potential tropical cyclone in the Caribbean is expected to rapidly strengthen over the warm…

  • Crude Oil Technical Analysis – Testing a key resistance

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    Investor Empires

    Basic Overview Crude oil remains supported as buyers may be looking at the implications of the Fed’s easing cycle on economic activity. As a reminder, crude oil positions are at all-time lows and sentiment is very bearish. These factors can generally provide great opportunities for reversal. The main reason that…

  • Crude Oil Technical Analysis – Testing a key resistance

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    Investor Empires

    Basic Overview Crude oil remains supported as buyers may be looking at the implications of the Fed’s easing cycle on economic activity. As a reminder, crude oil positions are at all-time lows and sentiment is very bearish. These factors can generally provide great opportunities for reversal. The main reason that…

  • Chart Art: Is WTI Crude Oil (USOIL) Ready To Extend Its Downtrend?

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    Investor Empires

    US Crude Oil Prices Just Showed A Red Candle Around A Major Turning Point! Are we witnessing the possibility of Black Crack extending its long-term downtrend? The 4-hour chart may give us more clues: Crude Oil WTI (USOIL) 4 hours Chart by TradingView In case you missed it, rising geopolitical…

  • Oil squeezes higher as specs bet heavy against crude

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    Investor Empires

    Oil daily We have seen this pattern several times recently: positioning data released late Friday shows a very negative situation in oil, and on Monday there will be bullish pressure. But unfortunately, the gains didn’t last, at least not recently. There are already signs of that with WTI crude rising…

  • Crude oil trades into negative territory

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    Investor Empires

    Crude oil is now trading in negative territory at $69.08, down from its high of $70.32. Looking at the hourly chart, the price of gold has moved above its 200-hour moving average (currently at $68.93) this week on its way to its highest level today. Today’s bullish move also broke…

  • Grangemouth oil refinery to close in 2024, risking 400 jobs and increasing UK fuel imports

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    Investor Empires

    Scotland’s last oil refinery at Grangemouth is due to close between April and June next year, costing 400 jobs and leaving the UK with just a handful of refineries. The closure, announced by Petronews – a joint venture between Sir Jim Ratcliffe’s Ineos and PetroChina – comes as domestic demand…

  • Grangemouth oil refinery to close in 2024, risking 400 jobs and increasing UK fuel imports

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    Investor Empires

    Scotland’s last oil refinery at Grangemouth is due to close between April and June next year, costing 400 jobs and leaving the UK with just a handful of refineries. The closure, announced by Petronews – a joint venture between Sir Jim Ratcliffe’s Ineos and PetroChina – comes as domestic demand…

  • Warren Buffett’s $13 billion bet on Occidental Petroleum turns sour as oil prices hit a 3-year low

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    Investor Empires

    Occidental Petroleum shares have fallen 29% since mid-April, weighing on Warren Buffett’s stake in the company. This decline is in line with a 23% drop in crude oil prices due to concerns about demand and excess supply. Berkshire Hathaway’s $13 billion stake in Occidental Petroleum may be underwater, according to…

  • Over 40% of U.S. Gulf of Mexico oil output shut-in by Francine but little damage seen

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    Investor Empires

    SlavkoSereda/iStock via Getty Images Crude oil prices rose for a second straight session on Thursday as Hurricane Francine forced several offshore wells to shut in production, but gains were capped by lingering concerns about the outlook for crude demand. More than 730 thousand barrels per day, or 42% of Crude…

  • Oil – private survey of inventory shows a headline crude oil draw vs. build expected

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    Investor Empires

    Figures via oilprice.com on Twitter: — The predictions I saw focused on: Crude oil rises by 1.0 million barrels Distillates +0.3 million barrels Gasoline -0.1 million — This data point is taken from a special survey conducted by the American Petroleum Institute (API). It is a survey of oil storage…

  • Oil smoked in a 4% decline. On track for the lowest close since 2021

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    Investor Empires

    WTI Daily Crude The price of a barrel of WTI crude oil is now at $65. It fell 4% on the day, or $2.75, to $65.96, its worst level since May 2023. It has traded as low here on a handful of days in 2023, but if it finishes at…