Analytical market reviews of oil and other commodities. Analysis of the latest news, oil price predictions.

Brent stumbles on stronger US dollar

Oil benchmarks are slipping into the weekend as the US dollar continues pushing higher following the Fed’s recent overt signal to keep pressing on with its aggressive fight against inflation.

23 September 12:21

100bps Fed rate hike could drag oil lower

If the Fed triggers a gargantuan 100bps hike next week, or signals to the markets that the 4.5% peak for the ongoing rate hike cycle is inadequate to tame stubbornly elevated inflation, that may well translate into Brent revisiting its recent cycle low around $87/bbl.

16 September 10:55

Brent oil dragged lower by demand fears

Brent oil is trying to claw its way back above the psychologically-important $90/bbl level, even as it continues to trade around its lowest levels since February. Oil bears took their cues from the “death cross” that formed earlier this week, with the ensuing losses lending credence to such a bearish technical signal.

9 September 12:46

Brent braces for surprise OPEC+ hike

Brent is attempting to hold steady, having plunged back below the psychologically-important $100/bbl mark this week and trading below its 200-day simple moving average (SMA) once more.

2 September 12:13

OPEC+ supply curbs should keep Brent above $100

Oil prices have been given a lift at the prospects of OPEC+ supply cuts in a bid to offer stability to markets. Brent oil has been restored to levels around the psychologically-important $100/bbl line, though remains capped by its 50-day simple moving average for the time being.

26 August 12:01

Oil bulls gripped by growth fears

Concerns over an economic slowdown inspired oil bears this week.

19 August 09:01

Brent oil tossed about by supply-demand uncertainty

US supply disruptions are helping oil futures chart a course towards a weekly gain, with the further moderation in the US dollar easing downward pressures on the commodity. While Brent has resurfaced above its 200-day simple moving average, the global oil benchmark is still adhering to the downtrend that began in June.

12 August 12:13

Recession fears drag on Brent oil

Oil prices were able to brush off this week’s negligible supply hike by OPEC+, only to succumb to growing fears of a looming recession amid the ongoing global wave of rate hikes.

5 August 12:00

Softer dollar helps Brent shrug off US “recession”

The softer US dollar has made it easier for Brent to shrug off the surprise contraction in the US economy. Brent remains on course for back-to-back weekly gains, as it keeps its head above the psychologically-important $100/bbl mark.

29 July 12:45

Brent prices gripped by demand-side concerns

The surprise contraction in Europe’s manufacturing sector has ramped up fears of an economic recession. Ongoing rate hikes by central bankers worldwide, with the ECB finally following suit this week, are also set to hasten the demand erosion.

22 July 12:50

Oil prices hammered by recession fears

It has been a brutal week for oil markets. The global commodity has weakened below $95 for the first time since Russia invaded Ukraine thanks to fears of an impending global recession

15 July 09:54

Demand fears drag Brent below key support levels

Brent is able to keep its head above the psychologically-important $100/bbl mark for the time being, despite having broken below notable support levels. Brent’s 100-day simple moving average and the upward lower trendline since March both gave way earlier this week, as oil investors grew more doubtful about the resilience of global demand.

8 July 12:33

Brent tests support at 100-day SMA

Demand-side fears are overtaking the supplies-staying-tight narrative, prompting oil to unwind its year-to-date gains, with both Brent and WTI futures bringing the curtains down on six consecutive months of gains. Brent oil is holding tepidly above its 100-day simple moving average, clinging on for support as fears of greater demand destruction stemming from global monetary policy tightening weigh on the commodity’s prices.

1 July 13:03

Brent’s drop fuelled by recession fears

Brent oil is on course to register its first back-to-back weekly declines since April, and is currently testing support at its upward trendline since March. If this selling persists for oil benchmarks next week, it will mark Brent’s first monthly decline of 2022.

24 June 12:43

Brent set to end run of four straight weekly gains

Brent oil is now in the green heading into the weekend, attempting to resurface above the psychologically-important $120/bbl mark. Despite finding support at its 21-day moving average, Friday’s advance may not be enough stop Brent’s first weekly decline since mid-May.

17 June 12:36

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