OIL

[GoldTrader]

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.

[David-Trader]

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.

[ashif]

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.

[GoldTrader]

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

[David-Trader]

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.

[ALex]

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.

[ALex]

Oil (WTI) – 02.03.2017
WTI recovered from earlier loss but the downside pressure is likely to remain as the oil production in the US is on the rise. Today’s range $53.8-53.3
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 $53.4/barrel. Immediate support lies at $49 area and resistance at $57 area.

[David-Trader]

Oil (Brent) –02.03.2017
Brent is marginally better performer than WTI this week but down today. Today’s range - $55.8-56.5
Brent is trading at $2.5 per barrel premium to WTI. Likely to widen further in the medium term.
Brent is trading at $55.9/barrel. Immediate support lies at $52 area and resistance at $58 region.

[ashif]

Oil down on record U.S. crude stocks.


Oil prices fell on Thursday after U.S. crude stocks hit an all-time high and official data showed Russian oil production unchanged in February, with no further cuts to tighten the market and drain global oversupply. Benchmark Brent crude oil was down 50 cents a barrel at $55.86 by 1125 GMT. U.S. light crude was 50 cents lower at $53.33. Crude inventories in the United States, the world's biggest oil consumer, rose by 1.5 million barrels last week to a record 520.2 million barrels, official figures showed.


Russia's oil output was unchanged in February from January at 11.11 million barrels per day (bpd), signaling a pause in Moscow's efforts to curb production as part of a global deal, energy ministry data showed on Thursday. Crude oil prices slipped after the release of the Russian data but remained locked within tight trading ranges, supported by evidence of OPEC production cuts designed to reduce the oversupply that has weighed on prices for more than two years.

[GoldTrader]

Oil - 05.04.2017

Oil (WTI)
WTI is testing key resistance around $52 area. Today’s range $51.1-51.7
WTI is currently trading at $51.6/barrel. Immediate support lies at $46 area and resistance at $52 area.


Oil (Brent)
Brent is marginally better performer than the WTI today. Today’s range - $54.2-54.9
Brent is trading at $3.2 per barrel premium to WTI. Likely to widen further in the medium term.
Brent is trading at $54.8/barrel. Immediate support lies at $49 area and resistance at $56 region.