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Oil will eventually go higher, but, 1Q23 is a seasonally weak period, and the level of demand (versus supply) matters for commodity prices. Most ' real' analysts calculate a global surplus of more than 1mb/d in the quarter and then balance in Q2
$CL_F OOTT at 80$ is at a key level. Next 86 and 94. Impressive the 8 cons up days. Volatility very low, ready to break out.
watch out, the double spike in inflation is looming. don't even think about the fed's signal for lowering the rate.😂
Surprise surprise lol 🤣🤷♀️
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WTI Crude Oil Forecast: Crude Oil Reverses at MiddayThe West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Wednesday, but turned around to show signs of exhaustion.
Source: Daily_Forex - 🏆 567. / 51 Read more »
Oil heads for second week of gains on China demand outlookOil rose on Friday and was heading for a second straight weekly gain, spurred largely by brightening economic prospects for China and resulting expectations of a boost to fuel demand in the world's second-biggest economy. ارتفعت أسعار_النفط يوم الجمعة وويتجه لتحقيق مكاسب أسبوعية ثانية على التوالي ، مدفوعة إلى حد كبير بآفاق اقتصادية مشرقة للصين والتوقعات الناتجة عن تعزيز الطلب في ثاني أكبر اقتصاد في العالم.
Source: Reuters - 🏆 2. / 97 Read more »
Oil prices set for second week of gains on brighter China outlookOil prices were set to post a second straight week of gains on Friday, spurred largely by brightening economic prospects for China which should boost its fuel demand. China and Russia have BOTH PROFITED from so-called western sanctions.. Prosecute the Biden Admin!!!
Source: Reuters - 🏆 2. / 97 Read more »
Oil prices gain around 1% on optimism over China's recoveryOil prices rose on Wednesday to their highest since early December on optimism that the lifting of China's strict COVID-19 curbs will lead to a fuel demand recovery in the world's top oil importer. ارتفعت أسعار النفط يوم الأربعاء إلى أعلى مستوياتها منذ أوائل ديسمبر وسط تفاؤل بأن رفع القيود الصارمة التي تفرضها الصين على فيروس_كورونا سيؤدي إلى تعافي الطلب على الوقود في أكبر مستورد للنفط في العالم.
Source: Reuters - 🏆 2. / 97 Read more »
Oil rises to 6-week high amid continued optimism over China reopeningOil futures rise to their highest levels since early December as traders remain upbeat about China's reopening and the demand for crude.
Source: MarketWatch - 🏆 3. / 97 Read more »
Global oil demand could hit record high as China reopens | CNN BusinessGlobal oil demand is expected to hit its highest-ever level this year on the back of China's swift reopening of its economy. We had a chance, right at the beginning of the pandemic, to finally get off fossil fuels on a global scale. We blew it. Might b time to do some drillin. Just sayin. Russia is going to make millons selling oil to China
Source: cnni - 🏆 326. / 59 Read more »