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Thread: OIL

  1. #11
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    Brent - 14.03.2016 Technical Levels.

    Fresh offers hit Brent futures in Europe, pushing prices below $40.00 handle to a three-day low of $39.49 levels.
    Technically, Brent next immediate resistance above at 41 and 41.50 levels. Downside support at $39.48, 39.29 and 38.49 levels.

  2. #12
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    Crude - 13.06.2016

    Crude's losses today came due to bearish expectations of the growth rates of the global economy, but prices found late support from the dollar's decline against a basket of rivals.
    OPEC released its monthly report today expecting in it the market to be balanced in the second half of this year as supplies fall and demand rises, wiping off the gap.

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    Oil jumps 7% on renewed hopes.


    Oil jumped by over 7% on renewed hopes for an OPEC deal to curb output.


    Brent crude added $3.43, or 7.25%, to $50.75.


    U.S. crude was up 7.10% at $48.44.




    OPEC Wednesday agreed to a 1.2 mn b/d cut in output to 32.5 mn.Bloomberg quoted a source as saying that the deal is not yet public.


    Reuters also quoted an OPEC source as saying accord reached to cut to 32.5 mn b/d.If confirmed this would be the first cut by OPEC since 2008.

  4. #14
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    Brent Technical Levels - 06.01.2017
    Brent is up in line with the WTI. Today’s range - $57.5-56.5
    Brent is trading at $3.1 per barrel premium to WTI. Likely to widen further.
    Brent is trading at $57.3/barrel. Immediate support lies at $52 area and resistance at $58 region

  5. #15
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    Brent Technical Levels - 10.01.2017
    Brent is up in line with the WTI. Today’s range - $54.7-55.4
    Brent is trading at $3 per barrel premium to WTI. Likely to widen further.
    Brent is trading at $55.1/barrel. Immediate support lies at $52 area and resistance at $58 region.
    Trend overall looking slightly bullish at the moment.

  6. #16
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    WTI Oil - 13.02.2017
    WTI is down today to start the week but struggling to gain considerable grounds facing higher production from United States, higher inventories, and a stronger dollar. Today’s range $53.3-54
    With an OPEC and non-OPEC deal done, the oil price is likely to reach $59 and $68 per barrel. However, WTI might decline to $46 per barrel in the short term.
    WTI is currently trading at $53.5/barrel. Immediate support lies at $49 area and resistance at $57 area.

 

 
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