Markets are widely expecting that OPEC+ would stand pat on its production levels at its weekend meeting.
2 June 13:21
Although on course for back-to-back weekly gains, oil’s advance for this week was significantly pared after Russia hinted that another OPEC+ supply cut may not be forthcoming at its early June meeting.
26 May 13:57
The global oil benchmark is on course to post a weekly advance of over 3%, ending a run of four straight weekly declines.
19 May 13:27
As mentioned in last Friday’s article, “Brent’s recent rebound is unlikely to be sustained …”. Sure enough, the global oil benchmark is unwinding some of its technical rebound, as demand-side fears continue to fester across markets.
12 May 12:21
Brent’s recent rebound is unlikely to be sustained as long as negative sentiment continues to cloud oil markets.
5 May 11:57
Gold is in a current correction phase after scaling the heights above $2000 earlier this month. Price action can always be more cautious as an asset approaches a big round number and psychological level like this.
28 April 09:00
At the time of writing, Brent is attempting to rebound after dropping close to the psychologically-important $80/bbl mark.
21 April 12:50
Brent oil is pulling away from its mid-week peak, unable to hold recent gains despite Thursday’s weaker US dollar in light of that larger-than-expected drop in US producer prices.
14 April 13:12
OPEC+ has stunned markets once again! The alliance of oil-producing nations announced an unexpected supply cut of over 1 million barrels per day starting in May. And as we know, when supply is lowered (ceteris paribus: all else equal), prices then rise.
4 April 14:11
Brent oil is taking a pause just below $80/bbl mark, after having staged a comeback in the second half of March.
31 March 12:27
Brent oil is paring some of its gains this week, having rebounded off the psychologically-important $70 mark. Still, the global oil benchmark appears poised to head into the weekend having registered its first weekly advance in three weeks.
24 March 12:21
The global oil benchmark is endeavoring to pick itself off a 15-month low and trim its largest weekly drop so far in 2023. The outlook for short-term demand has been hit by contagion fears following the Silicon Valley Bank and Credit Suisse banking crises as risk-off appetite and dollar volatility roiled markets.
17 March 12:03
Brent’s climb above its 50-day simple moving SMA proved short-lived, as prices were resisted at their 100-day SMA before hurtling back down towards the psychologically-important $80/bbl mark.
10 March 12:36
At the time of writing, Brent has resurfaced above its 50-day simple moving average (SMA), while also breaking past the upper bound of its downtrend that began since June 2022, as it looks to register back-to-back weekly advances.
3 March 11:28
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