Crude Oil Oil settled on a mixed note on Friday, with prices notching their third-consecutive weekly loss amid concerns over rising production in the U.S. Brent eased 8 cents to at $63.23 /bbl while WTI settled up 26 cents to settle at $57.30 / bbl. Both Brent and WTI however, posted their third straight weekly loss with Brent easing 0.3% and WTI 0.1%. Speculators cut their long positions in WTI futures and options for the 2nd…
Read More
Crude Oil Oil prices rose and settled higher on Thursday even as the market was devoid of any fresh news that could provide a clear direction. WTI settled up 44 cents at $57.04 /bbl while Brent settled up 87 cents at $63.31 /bbl. In other news, The International Energy Agency (IEA) recently published a report stating that it expects 2018 to be “a closely balanced market” with a surplus of about 200,000 bbls per day in the first half of…
Read More
Crude Oil Crude prices continued correction after the market perceived the data released by DOE as bearish. Brent settled 90 cents lower at $62.44 /bbl. WTI gave up 54 cents to settle at $ 56.60 /bbl Crude prices had another volatile day yesterday with Brent moving up to as $64.32 before settling close to the low, which was almost $ 2 /bbl lower at $ 62.30. The market started the day on an optimistic note…
Read More
Crude Oil Crude prices finally corrected after three days of strong gains. Brent settled at $63.34 /bbl, $ 1.35 lower. WTI eased 85 cents to settle at $ 57.14 /bbl The Crude Market had a roller coaster ride yesterday, highlighted by an intraday range of over $2.60 in Brent. The market started the day on extremely firm footing amid repercussions of the outage on the Forties pipeline – Feb Brent pierced the $65 level for…
Read More
Crude Oil Crude prices continued inexorably higher with Brent posting a third successive gain of $ 1 / bbl levels. Brent settled at $64.69 /bbl, $ 1.29 higher. WTI added on 63 cents to settle at $ 57.99 /bbl Crude prices moved up today as the Forties pipeline system shut for repairs and news of an explosion in New York affected market sentiments. Prices broke through the third resistance mentioned in our OPD technical analysis…
Read More