Crude Oil price is starting to tick up with tensions brewing ahead of the most crucial OPEC+ meeting before 2025, to be held on Thursday. Before the gathering, Iranian official Afshin Javan threw the cat among the pigeons by issuing an opinion piece
Oil prices starts to tick up with traders prepositioning for the upcoming
meeting before2025, to be held on Thursday. Before the gathering, Iranian official Afshin Javan threw the cat among the pigeons by issuing an opinion piece pointing to is set to convene on the extension of its production curbs. Meanwhile, the US Dollar Index – which measures the performance of the US Dollar against a basket of currencies – is rolling through markets. The index gains ground after Trump said over the weekend that he would impose tariffs if BRICS countries tried to replace the USD with their own reserve currency.
is set to meet on Thursday online to discuss what to do with its production curbs for 2025. Oil Technical Analysis: What could happen next for can do little to tweak expectations, so the chances for more downturn in Oil prices are bigger than those for an upturn. On the upside, the pivotal level at $71.46 and the 100-day Simple Moving Average at $72.01 are the two main resistances. The 200-day SMA at $76.18 is still far off, although it could be tested if tensions intensify further. In its rally towards that 200-day SMA, the pivotal level at $75.27 could still slow down any upticks. On the other side, traders need to look towards $67.
is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crude Oil sees buyers and sellers compressed in tight range ahead of OPEC+ meetingCrude Oil trades in the red and loses around 1% on Friday. However, it is in a continuous tight range with traders on the sidelines awaiting the outcome of the upcoming Organization of the Petroleum Exporting Countries and its allies (OPEC+) meeting on its output policy, which has been delayed to next Thursday.
Read more »
Crude Oil ticks up with help from weaker Dollar and further OPEC delaysCrude Oil ticks up on Wednesday, flirting with a 1% gain on the day. The move comes with several Organization of the Petroleum Exporting Countries and its allies (OPEC+) delegates confirming talks are underway for another delay of plans for its
Read more »
Crude Oil jumps 3% after OPEC delays output hikeCrude Oil price sprints higher on Monday on the back of an OPEC statement in which the Oil cartel says it has agreed to delay its foreseen production restart until at least December.
Read more »
Crude Oil trades off November’s low after OPEC revises global demand againCrude Oil trades broadly in the green on Tuesday after briefly ticking below $68.00, trying to recover from two consecutive sessions of sharp losses.
Read more »
Crude Oil flirts with new seven-day low as focus shifts to OPEC monthly reportCrude Oil slides by more than 1% on Monday, piling on Friday’s losses and within touching distance of a seven-day low, ahead of the publication of the monthly OPEC report on Tuesday.
Read more »
Crude Oil gives back part of Monday’s gains with US Oil market in tipping pointCrude Oil price slides lower on Tuesday after a key gauge on the US Crude market signaling a substantial glut taking place for the first time in nine months. The spread in price between Oil futures contracts for immediate deliveries against those a
Read more »