MCX Crude oil Forecast: WTI Crude oil futures ended the previous week 2.9% higher and closed at $93.06 per bbl, as investors weighed on uncertain supply levels from Iran and OPEC against the outlook of lower energy demand.
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Crude Oil Sinks on Demand Concerns as IEA Sees Energy Crisis Enduring
Crude Oil extended losses as a Covid-19 resurgence in China added to concerns about a global economic slowdown, with the International Energy Agency warning the worst of the energy crisis may be ahead.
Citi Warns Crude oil May Collapse to $65 by the Year-End on Recession
Crude oil could collapse to $65 a barrel by the end of this year and slump to $45 by end-2023 if a demand-crippling recession hits, Citigroup Inc. has warned.
Crude oil Price is consolidating
On Monday morning, the Brent price is balancing at $113 per barrel The commodity marker remains uncertain – the supply isn’t expanding as quick as it is expected to, and the demand might drop as well.
Crude Oil Forecast: Crude Oil Downside Target 8800——8500 (Sell on Rise)
WTI Crude Oil Forecast: Considering preliminary readings from CME Group for crude oil futures markets, traders increased their open interest positions for the fourth consecutive session on Tuesday, this time by around 20.3K contracts. Volume followed suit and went up by around 481.3K contracts, the largest single-day build since March 31.
Crude Oil Set for First Weekly Drop Since December on Iran Progress
Crude Oil headed for its first weekly loss since mid-December as Iran moved closer to reviving a nuclear accord that would lift American sanctions on its petroleum exports.
Oil Extends Drop as Investors Assess Reserve Release, Covid Wave
Oil extended declines — after four weeks of losses — on signs the U.S., China and Japan are all preparing to tap national crude reserves as concerns over accelerating inflation intensify.
Crude Oil edges up as supplies remain tight with no SPR release
Crude Oil reversed losses to close slightly higher after another day passed without an announcement from the Biden Administration to tap U.S. crude oil reserves.