Energy

Our crude oil analysis suggests prices may bounce back after having fallen sharply in recent weeks amid waning risks of supply disruptions in the Middle East.

War risk premium fades but OPEC+ cuts and reduced fears about Eurozone economy keep oil prices supported. Brent oil technical analysis suggest prices are now at key support zone.

WTI Crude Oil takes a dive as market anticipations steer the wheel towards lower demand expectations

WTI Crude Oil Outlook: From pipelines to policies, mapping Crude Oil market trends amid Fed rate decisions, employment indicators, and PMI results

Crude oil investors eye clues about demand outlook ahead of busy week, as OPEC+ cuts and reduced fears about Eurozone economy keep oil prices supported. WTI technical analysis suggests trend is still bullish.

Crude oil demand outlook will come into a sharp focus this week with the release of the global manufacturing PMI data, US GDP and the Fed’s preferred measure of inflation this week. Still, Middle East tensions remain the key driver of short-term price action. Meanwhile, WTI technical analysis suggests the longer-term trend is still bullish.

Middle East concerns should keep the downside limited for crude oil, after prices slid 3% as demand concerns intensified on weaker Chinese industrial data and amid the prospects of higher interest rates for longer. WTI technical analysis suggests the longer-term trend remains bullish, with the first short-term support level to watch coming in around $82 area.

Crude oil looks set to end March and the first quarter higher. Oil prices have been buoyed by easing demand concerns and sustained supply cuts by the OPEC+. Meanwhile WTI technical analysis points higher, for as long as $79-$80 support area holds.

Crude oil finished last week nursing its largest three-day decline since October, sliding 7.1% despite escalating geopolitical tensions. But with US and UK forces bombing Iranian-backed militia targets in Yemen, Iraq and Syria over the weekend, grounds for a bounce may be increasing.

Crude oil plunges, but Middle East tensions still remain high despite potential ceasefire between Israel and Hamas. IMF raises global GDP forecasts as US economy again displays resilience, as evidence by a robust jobs report. But China remains a concern.

Crude oil is already supported on raised geopolitical risks but now we also have improved demand outlook, after the IMF raised its global GDP forecasts thanks to a resilient US economy and fiscal support from China.

Traders have been searching for evidence of market tightness in crude oil for months, wondering when production and export cuts from OPEC and Russia would filter through to visible inventories. Perhaps they just found it.

Crude oil outlook boosted by Middle East conflict while strengthening data reduces demand fears. The US attacks on targeted "Iran-affiliated groups" in Iraq have been condemned as "contributing to a reckless escalation" in the crisis. WTI technical levels to watch include $75 on the downside now.

Crude oil analysis: Macro environment for oil remains bullish as crude oil technical analysis suggest WTI could rise to test the key $75 level. Meanwhile, as bullish momentum is gathering pace, this is making oil less and less appealing for the bears.

After last week’s hammer candle, today’s upside follow through would appease the bulls. Crude oil prices turned sharply higher after BP paused all Red Sea oil shipments following the rebel attacks. WTI has likely formed a bottom after bouncing from its 200-week average last week.

In this article, we discuss the factors drove the significant drop in prices and explain why further downside could be limited for crude oil. WTI technical analysis suggests $70 is among key support levels to watch

Crude prices remain on a slippery slope after the OPEC+ failed to impressive with their voluntary output cuts last week. From Thursday’s high point, oil prices have now fallen about 12% so far. On Wednesday, brent dropped below $75 and WTI took out $70, with both contracts falling in excessive 3.5% each on the day.