Category: Oil
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Crude Oil Technical Analysis – Consolidation ahead of the US NFP report
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Basic Overview Last week was a tough one for crude oil as the price fell more than 6% on renewed growth concerns amid weak US data. OPEC+’s delay in increasing production from October did not spark a rally but helped slow the downward momentum. Much now depends on today’s US…
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Costly fuel looms on push for bigger oil dealer profits
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Kenyans are set to pay an extra Sh4.45 per litre of fuel if a proposal in a study commissioned by the Energy Regulatory Authority is adopted, raising concerns about pressure on cost-of-living measures. The study by consultants Corrent Technologies and Channel Consulting Limited proposes increasing margins offered to oil marketing…
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Stocks Tumble Most Since August Rout, Oil Slips: Markets Wrap
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(Bloomberg) — Asian stocks fell the most since Aug. 5, tracking a selloff in their U.S. counterparts driven by a sharp drop in Nvidia Corp. Most Read from Bloomberg Shares of Asian chipmakers fell amid renewed concerns about the AI craze, dragging the regional stock index down more than 2%.…
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Oil finishes the week sharply lower as the OPEC rumour mill begins
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WTI Weekly West Texas Intermediate crude had a poor end to the week, falling $2.33 to $73.57 on Friday. Oil prices rose sharply at the start of the week and remained in positive territory early today, but retreated when Reuters reported, citing sources, that OPEC still plans to start gradually…
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Oil finishes the week sharply lower as the OPEC rumour mill begins
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WTI Weekly West Texas Intermediate crude had a poor end to the week, falling $2.33 to $73.57 on Friday. Oil prices rose sharply at the start of the week and remained in positive territory early today, but retreated when Reuters reported, citing sources, that OPEC still plans to start gradually…
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Falcon Oil & Gas Ltd. – Spudding of Shenandoah South 2H in Exploration Permit 98
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This section is Partnership Content supplied The content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Breadcrumb Trail Links GlobeNewswire Author of the article: Published Aug 30, 2024 • 7 minute…
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Crude oil turns higher on supply concerns from Libya, Iraq (NYSEARCA:USO)
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SlavkoSereda/iStock via Getty Images Crude oil futures rose on Thursday, rebounding from two days of declines, as supply disruptions in Libya and plans to cut production in Iraq raised concerns about tightening global supplies. More than half of Libya’s oil production is out of service, Exports have been halted at…
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Chart Art: WTI Crude Oil (USOIL) Aiming for Triangle Support Again?
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The top of the descending triangle has been acting as resistance for crude oil this week, putting the commodity back on track to test the bottom. Will the support continue again? Take a look at the nearby turning points I am watching on the 4-hour chart: Crude Oil WTI (USOIL)…
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Chart Art: WTI Crude Oil (USOIL) Aiming for Triangle Support Again?
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The top of the descending triangle has been acting as resistance for crude oil this week, putting the commodity back on track to test the bottom. Will the support continue again? Take a look at the nearby turning points I am watching on the 4-hour chart: Crude Oil WTI (USOIL)…
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Forexlive European FX news wrap 26 Aug – Libya halts oil production and exports
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Chart Art: WTI Crude Oil (USOIL) To Revisit Its Triangle Resistance?
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US crude oil prices continue to recover after revisiting August lows last week. How far can WTI crude oil go before sellers can gather enough downside momentum? We take a closer look at the potential resistance area: Crude Oil WTI (USOIL) 4 hours Chart by TradingView In case you missed…
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Morgan Stanley latest to cut oil demand growth forecast on China factors (NYSEARCA:USO)
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SlavkoSereda/iStock via Getty Images Crude oil futures settled higher on Friday but fell for the week as the market digested bullish U.S. inventory data and Federal Reserve Chairman Jerome Powell delivered his speech. Strongest signal yet The central bank will cut interest rates next month. Earlier this week, oil futures…
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Crude oil futures settle at lowest since January; gasoline hits new 52-week low
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SlavkoSereda/iStock via Getty Images Crude oil futures fell for a fourth straight session on Wednesday, as a downward revision to U.S. jobs data outweighed a rally driven by a larger-than-expected drawdown in U.S. crude inventories. The United States added 818,000 fewer jobs than previously reported. From April 2023 to March…
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Lower oil, Fed easing would support EM FX in hard landing: BofA By Investing.com
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Emerging market foreign exchange markets are expected to perform better in a potential hard landing scenario than in previous similar episodes, analysts at Bank of America Securities said in a note dated Tuesday. The note outlines the key shifts in the drivers of emerging market FX since the Covid-19 pandemic,…
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Chart Art: Resistance-turned-support For Brent Crude Oil (UKOIL)?
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Brent crude oil prices may use the broken resistance line as a support zone. Will oil prices bounce off the potential technical support area in the next few days? We are looking at the UKOIL 4-hour chart today! Brent Crude Oil (UKOIL) 4 hours Chart by TradingView If you missed…
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Oil prices no longer baking-in geopolitical risk premium for current ME conflict By Investing.com
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Oil prices have remained surprisingly stable despite rising geopolitical tensions in the Middle East, particularly in the wake of major violent incidents involving Hamas and Hezbollah leaders, Wells Fargo analysts said in a note dated Monday. These events, taking place in sensitive areas such as Tehran and Beirut, have exacerbated…
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Crude oil little changed after volatile week with China demand fears lingering
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SlavkoSereda/iStock via Getty Images Crude oil futures ended the week little changed as lingering concerns over the outlook for demand in China and easing geopolitical risks offset economic data showing slowing inflation and strong retail sales pointing to resilient consumer spending. “It was Oil markets had a volatile week, said…
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Chart Art: WTI Crude Oil (USOIL) Aiming for Triangle Resistance
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Crude oil has been on a sharp rise these days, but can it continue its upward trend past this major resistance area? If so, how high can it go? Check out this long term chart pattern on my radar! Crude Oil WTI (USOIL) Daily Chart by TradingView Crude oil has…