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Oil traders are waiting for additional catalysts after recent volatility.
The oil market fell in the majority of trading at the beginning of the week. However, we have since bounced enough to show signs of strength, and this is a good sign for some kind of recovery in the s
The crude oil market continues to see a lot of noisy behavior, as the market continues to look for value and support.
Oil prices have rebounded over the past two days after a selloff, but are still down for the week. OPEC+ production increases, soft manufacturing data and disappointing private payrolls weighed on the
Oil futures rose Friday, finding support after Saudi Arabia's energy minister reiterated that an OPEC+ plan to unwind 2.2 million barrels a day in voluntary cuts later this year can be paused or rever
Given the anticipated rise in supply from OPEC+ and mixed signals from economic indicators, the short-term outlook for oil prices remains bearish.
WTI oil surged to $75.70 following OPEC+ updates, signaling potential for more gains as market sentiment shifts positively.
Oil prices rose on Friday, continuing to climb after OPEC+ members Saudi Arabia and Russia indicated readiness to pause or reverse output agreements and as an interest rate cut in Europe raised the pr
Oil markets continue to move away from multi-month lows.
Crude oil rallies to 38.2% Fibonacci retracement, targeting 76.87 and 77.84 next, with potential resistance at the 20-Day MA and 200-Day MA levels.

Crude Oil Trades near Multi-Month Lows

12:01pm, Thursday, 06'th Jun 2024
Crude oil is trading near multi-month lows. David Williams discusses this, as well as what rate cuts mean for the energy market.
After a pensive and somewhat calm month of oil trading in May, market bears returned with a vengeance in June, as both the global proxy benchmark Brent and the U.S.' West Texas Intermediate hit four-m
Francisco Blanch, head of commodities and derivatives research at Bank of America Securities, expects Brent crude to average $80 in 2025 as he examines the OPEC+ output decision. -------- More on Bloo
Oil prices closed more than 1% higher Wednesday, snapping a losing streak triggered by the OPEC+ decision to increase supply.
The crude oil market has been negative for several sessions, until recently. This is a market that is currently testing a certain amount of support, as the cycle this time of year is likely to be an i
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