General information
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 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
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
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 seem to be in high spirits before the US summer driving season kicks off this weekend.
27 May 09:20
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
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
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
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
Oil prices continue to trend sharply higher today after taking a breather on Friday, with Brent up more than 4.6% to $98.56/bbl, while WTI was up 4.5% above $95/bbl by the time of writing.
28 February 13:47
News. The next ministerial meeting of OPEC member countries is scheduled to be held next week on Wednesday, March 2.
25 February 14:09
Crude futures after yesterday's sluggish gains today shot up at the open, with the Brent price soaring over 8% and exceeding the 2014 high of $101/bbl, while WTI is up by 8.4%, closing in on $100/bbl.
24 February 13:01
Benchmark crude prices today extended a powerful rally that got under way last night, during which oil prices breached a number of resistance levels and advanced about 2%, retracing to 2014 highs. By the time of writing, Brent was up 3.52% at $98.75/bbl, while WTI was 4.85% higher at $95.49/bbl.
22 February 12:48
The oil market is in decline again today, with the crude benchmarks that rose on Friday evening by 1-1.2% in retreat today. By the time of writing, Brent was off 0.06% at $93.48/bbl, while WTI was up 0.01 % at 91.06/bbl.
21 February 13:09
Oil prices are recovering this morning after Wednesday’s pullback. By the time of writing, Brent was down 2.25% at $92.69/bbl, while WTI was trading 2.36% lower at $91.44/bbl.
17 February 12:59
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