Brent Slides On Weak Chinese Exports
Brent crude oil lost its momentum on Tuesday morning after demand woes outweighed worries about the ongoing tension in Syria.
BNO
Bullish momentum for oil now coming to an end?
Last week was a volatile one for crude oil futures, with the April contract closing the week at $102.58 a barrel having touched $105 per barrel at the start of the week.
Brent Slides Towards $108 On Chinese Exports
Brent crude oil fell below $109 to start the week on poor data from China, but supply worries helped underpin prices.
Brent Above $107 On Improving Growth Prospects
Brent crude oil (BNO,quote) gained momentum on Wednesday as growth in industrialized countries became more likely. The commodity traded at $107.10 at 6:30 GMT on Wednesday morning.
Morning Outlook – November 1st
U.S. futures are riding yesterday’s momentum of positive U.S. economic data refueling speculation the Federal Reserve may opt to taper its $85 billion stimulus program sooner rather than later.
Daily Energy Report
And so the bullish trade returns. The up-down-up-down pattern that has developed over the past week continued yesterday in WTI and cast a positive light on an otherwise neutral-appearing chart. Brent appears similar, but couldn’t get much of a rally going yesterday.
Daily Energy Report
Oil prices may hold within a sideways trading direction this week, as the short-term rally contends with a building bearish divergence on the daily stochastics oscillator.
Daily Energy Report
Oil prices could trade in a mixed direction this week, with a small pullback toward $91.50 possible in WTI. Pressure may be offered by a developing bearish divergence on the stochastics oscillator in both WTI and Brent…
Daily Energy Report
The oil market finally “broke out” from its week-long consolidation range yesterday, but the breakout was anything but impressive. WTI settled in the middle of the day’s trading range while Brent ended near the day’s low. While those settlements provide little in the way of positive forward guidance, other signs are more bullish. Support will be offered from the growing appearance that economic data in Asia and Europe are improving, fresh five-year highs in the S&P 500 yesterday, and weakness in the dollar
Daily Energy Report
It was deja vu all over again for the oil markets yesterday, as both WTI and Brent made small losses within inside-day trading ranges. The incremental information in yesterday’s session basically included pressure from weak oil demand and increasing worries about the upcoming German local elections, while support came from increased speculation about accommodative monetary policies in Japan and China