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

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

Brent set to post fourth consecutive weekly gain

Oil benchmarks are dipping slightly ahead of the weekend on reports that Shanghai is set to return to lockdowns this weekend. Should China be able to reduce the number of virus-curbing disruptions while the US summer driving season remains ongoing, that may well offer another demand-side tailwind for oil prices.

10 June 12:34

Oil unfazed by larger OPEC+ hike

This week’s OPEC+ announcement was poised to be a shocker, having agreed to a larger-than-usual 648,000 bpd output hike for July and August. Perhaps more significantly, it signalled the alliance’s shift away from its ‘gradual stance’ in restoring oil output that had been shuttered since the pandemic.

3 June 11:39

Oil bulls charge on robust demand outlook

Oil bulls seem to be in high spirits before the US summer driving season kicks off this weekend.

27 May 09:20

Oil set to resume climb once China moves past lockdowns

US crude futures are set to post four straight weeks of gains amid concerns surrounding growing scarcity of fuel products. Oil benchmarks are being kept above $100/bbl as well as their respective 50-day moving averages as market fundamentals point to a persistent supply shortage.

20 May 11:52

Oil prices kept rangebound by supply and demand risks

The acute shortage of products such as diesel and gasoline is keeping oil benchmarks above the $100/bbl line, with WTI and Brent futures restored to their respective 50-day moving averages.

13 May 12:27

Expected OPEC+ output hike does little to dissuade oil bulls

Oil prices brushed aside the widely expected output hike decision by OPEC+ to remain on course for consecutive weekly gains, as Brent and WTI futures continue being guided higher by their respective 50-day moving averages.

6 May 13:13

Oil prices retrace to 2012 highs

Crude futures continue to rally for the third day, surging above $100/bbl on March 1. Today the Brent price is up 2.6% at $116.08/bbl, while WTI is 3.2% higher, trading north of $113/bbl.

3 March 12:21

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