General information
Brent oil is now back in the red on a year-to-date basis amid waning optimism surrounding China’s economic reopening while rising US inventories further dented sentiment.
3 February 11:59
The global oil benchmark is taking cautious steps higher while push and pull factors are still in play. Hopes that peak US interest rates is drawing close, coupled with the optimism surrounding China’s economic reopening, are placing Brent on course for a third successive weekly gain.
27 January 11:10
Green shoots of optimism surrounding China’s economic reopening, being the world’s top crude importer, is helping Brent on to back-to-back weekly gains.
20 January 12:57
Brent is on course for a weekly gain, as the global oil benchmark attempts to unwind last week’s losses. Still, Brent is set to meet head on with the immediate resistance level which is the 50-day simple moving average SMA).
13 January 12:33
Brent bulls got a rude shock at the onset of the new year, having already shed about 7.6% so far in these early days of 2023.
6 January 10:43
Concerns over scarcer supplies on the back of the Russia-Ukraine war then gave way to demand-side fears amid the global wave of monetary policy tightening.
30 December 11:15
Oil benchmarks are getting a slight boost after Russia suggested it could lower its supplies early next year in response to the G7’s price cap.
23 December 12:20
Despite the wave of rate hikes by major central banks this week, Brent oil is on course for a weekly gain on signs of tightening supplies and a further reopening of the Chinese economy.
16 December 11:20
Brent oil is headed for its first double-digit weekly loss since early August and has erased all of its year-to-date gains which once stood at nearly 80%.
9 December 12:40
Oil is heading for a weekly gain of over 3.5% thanks to a weaker dollar and China softening virus controls.
2 December 08:57
Brent oil is trading close to its late-September lows, after briefly dipping to its lowest since January at the onset of the trading week.
25 November 11:50
Oil is heading for a hefty weekly loss of more than 7% as fears intensified over the gloomy demand outlook for crude markets.
18 November 08:00
Brent oil has seen several catalysts for gains ahead of the weekend, ranging from the prospects of a less-aggressive Fed to China’s reduction of the required quarantine period for inbound travelers.
11 November 12:18
Brent futures are climbing on hopes that China is moving towards finally easing up on Covid restrictions and alleviate demand conditions in the world’s largest crude importer.
4 November 10:37
Brent is about to register consecutive weekly gains for the first time since July, despite the risk-off mode sweeping through global markets and the US dollar’s recovery heading into the weekend.
28 October 13:20
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