Crude Oil

This could be a pivotal week for the crude oil. With key US economic data on the horizon and the OPEC+ meeting later this week to discuss oil production targets, market participants are bracing for significant developments.

Crude Oil Week Ahead: Crude oil faces volatility risks ahead of the OPEC meeting, now rescheduled for Wednesday to accommodate all members and avoid a clash with the Gulf Summit. Sideways price movements persist, leaning towards a bearish bias for 2025.

Oil prices reversed from yearly open resistance this week with the bears aiming back towards multi-month range lows. A multi-timeframe view of the oil technical charts.

Crude Oil, GBPJPY Forecast: The lingering effects of Trump-era policies continue to shape broader market trends. Expectations of war resolutions are pressuring oil prices into a neutral stance, while tariff policies are fueling volatility across the US dollar rally.

How could a potential Israel-Lebanon ceasefire impact oil prices and what are the key levels to watch?

Crude Oil Week Ahead: Crude oil’s 4-year support level has amplified its importance as supply disruption risks rise again amid the Russia-Ukraine conflict. Meanwhile, OPEC’s upcoming meeting on Sunday could reshape production quotas and influence market dynamics.

Welcome to Friday! Bitcoin inches closer to $100K, with spot and futures markets hitting record highs. Gold breaks above its 50DMA, bolstering bullish picture, while crude oil builds momentum despite lighter volumes. ASX 200 futures remain a buy-on-dips play, edging closer to record highs. EUR/USD stays under pressure, hitting fresh 2024 lows.

Given the rise in non-OPEC supply growth, the OPEC+ will be under pressure to support prices. But the group has said that it will gradually restore withheld supplies after multiple delays. What’s more, we could see a sharp rise in US drilling activity under Trump’s plans. As a result, we could potentially see a boost in both OPEC and non-OPEC production by 2025 and beyond.

The immediate response in the commodities space to the Republican’s clean sweep victory has been a bearish one - especially for industrial metals. Copper and silver fell over 4% each, tracking weaker iron ore prices, while gold was off by around 3%. Crude prices fell too but came sharply off their earlier lows.

Gold, Oil Outlook: Following a period of geopolitical and USD-related uncertainty, gold’s uptrend has stalled below $2,800, while oil remains in a tight consolidation below $72. Markets are calm and appear poised for a potential spark.

With the US election on the horizon, uncertainty looms over key markets like USD/JPY, gold, and crude oil. Discover how potential political outcomes could trigger explosive volatility and reshape trading strategies in the days ahead.

Crude Oil Week Ahead: In the coming week, crude oil markets face heightened volatility risks due to a closely contested US election on Tuesday, uncertain FOMC meeting on Thursday, and persistent geopolitical conflicts.

Crude Oil Forecast: The December 2021 support level remains a key factor amid shifting data on US inventories, Middle East conflicts and ceasefire hopes, economic indicators, and supply quotas. Will it hold through 2024?

Oil prices plunged nearly 15% off the monthly high with WTI now approaching key technical support at the yearly lows. A multi-timeframe view of the Oil technical charts.

Oil slumps 5% as the geopolitical risk premium falls. DAX rises ahead of a key week for global risk events.

Israel’s weekend retaliation against Iran was in line with media reports earlier this month, avoiding a provocative attack that could have escalated the conflict further. Given the lack of surprise, there may be a temptation among traders to close the opening gap created by the headlines.

Crude Oil Week Ahead: Crude oil prices gained 4% last week, closing near $71.70 as escalating strikes in the Middle East fueled uncertainty around a potential ceasefire or further retaliatory actions. With strong upside risk, oil prices are expected to navigate a busy week packed with key events related to employment and economic growth indicators.