Tag: oil price

OIL Oil is gaining during the early part of Wednesday’s session, supported by a draw in American crude stocks. This reduction feeds into the narrative of supply being insufficient to meet demand, supporting oil prices as a result. Despite the threat posed by the spreading of the Delta variant, the IMF maintained its growth forecast…

OIL Oil prices are reacting to yesterday’s cold shower. Monday’s decline could yet prove supportive, as it was mostly linked to some profit-taking after a long and probably too quick rally. It is therefore crucial for the price to hold above the low reached earlier this morning, which is now representing a valid support zone.…

OIL Oil is showing limited volatility with investors are in wait and see mode ahead of the OPEC meeting, which is likely to be a significant market mover for the sector. A reduction of the curbs in production imposed in the last few months could slow down the recent price rally but would probably not…

OIL Oil is back in the green. As stocks recover from the selloff of the final part of last week, oil benchmarks are also trading positively. Friday’s decline seemed a psychological correction resulting in a temporary “risk off” scenario, as investors became nervous about an unstable bond market. Therefore, the main trend for the barrel…

OIL Oil remains in a positive vein with the “long only” mood of the last few weeks continuing to dominate. WTI is now trading above $63, exactly $100 more than the historical low reached 10 months ago, when the price collapsed to -$37. The rally is linked to the risk on scenario and positive sentiment…