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Based on last week’s close at $59.04 and price action, the direction of the May U.S. WTI crude oil futures contract this week is likely to be determined by trader reaction to the main 50% level ...
The crude oil markets initially fell during the week, but have since recovered completely to show signs of resiliency again Crude Oil Weekly Price Forecast – Crude Oil Markets Continue Recovery ...
The crude oil markets initially dipped during the course of the week but as OPEC has finally come to a consensus, markets look as if they are stabilizing. Crude Oil Weekly Price Forecast – Crude ...
At this point, we are forming a massive exhaustive candle on the weekly chart as well. The crude oil markets got absolutely hammered during the day on Friday, as we have broken through major ...
The crude oil markets have rallied a bit during the course of the trading session on Friday, to close out the week on the highs as momentum continues to pick up. Crude Oil Price Forecast – Crude ...
Oil rose for the first week of 2024 due to the Israel-Hamas War threatening to become a larger conflict, and positive U.S. economic news. Brent finished at $78.76 and WTI at $73.81. [49] Continuing Houthi attacks disrupted oil trading and increased costs, driving up oil prices. Brent finished January at $80.55 and WTI at $75.85. [50]
U.S. crude and fuel inventories rose and oil prices fell, still finishing higher for the 5th week. [78] In the last full week of January, WTI reached $88.84, the highest in seven years, before settling at $86.82. Brent reached $91.70, highest since October 2014, before falling to $90.03. Both had the most up weeks since October. [79]
Crude oil markets started out relatively stable during the week but got hammered after the jobs report sent interest rates much higher in America.
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