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Tradebulls securities suggests 6725 remains a strong hurdle for crude oil amid geopolitical tensions............ Crude oil prices saw decline on Thursday after Energy Information Administration’s report of an estimated inventory decline of 4.2 million barrels for the week to May 24, as fuel inventories rose. Traders appear to be locked between expectations of softer demand and uncertainty about supply sufficiency. The virtual likelihood that OPEC+ will continue its voluntary production cutbacks into the second half of the year influences supply estimates. OPEC+ is aware that prices will plunge if it doesn’t. We have seen some uptick in the geopolitical crisis with Israel’s takeover of control over Gaza’s border with Egypt suggests that the war there is not going to end anytime soon, and with it, the risk of an escalation that could jeopardize the Middle East’s oil supply. Another Houthi attack on a ship in the Red Sea has confirmed suspicions that normal traffic through the Suez Canal is not about to return anytime soon. Meanwhile, weak data from China also does not bode well for crude prices. MCX Crude oil trend is weak as the market is making lower top and lower bottom formation on daily scale. It is also trading below its 21-day moving average while momentum oscillator RSI_14 is bearish trading around 42. Immediate support comes around 6350 which is the previous swing low while major hurdle is above 6728. Twice this month, Crude has tested the levels of 6725 followed by correction as 6725 is proving to be a strong hurdle. #CrudeOil #OilTrading #GeopoliticalTensions #MarketHurdle #TradeBulls #OilPrices #EnergyMarket #OilResistance #TradingStrategy #Commodities #OilInvesting #MarketAnalysis #CrudeOilHurdle #EnergySector #OilMarket #FinancialMarkets #TradingInsights #CommoditiesMarket #OilEconomics #MarketForecast

🛢️ Oil prices fall: «Crash for exporters»? 📉 The price of Brent crude oil has fallen below $71 per barrel! The lowest level in three years! 📉 Forecasts are not happy: banks are predicting a further drop to $60! 🤔 Why is this happening? — OPEC+ can’t keep prices high. — Economic problems in China. — The West’s green agenda is not encouraging investment in the oil industry. — Excess supply of oil in the market. ⚠️ What lies ahead for Russia? — Reduction of oil and gas revenues. — Tough times for exporters. 💪 But there is good news! — Economic growth may slow down, but $60 per barrel is not critical. — Diversification of exports will help to withstand «conjunctural shake-ups». — Import substitution and reorientation to the East make the economy more sustainable. 🤔 What do you think will happen to oil prices next? Write in the comments! 🌍 By the way, what do you think will happen to the oil industry as a whole? ✉️If you are interested in our company’s services, please contact us by mail: sales@proscoscm.com Subscribe to our Telegram channel: https://lnkd.in/eiGCKB6q 📊 #Logistics #Economy #Trade #FEA #Oil #News #Predictions

💡 Decoding Oil Prices: Understanding Benchmarks and Market Influences 💡 Ever wondered how oil prices are set and why they fluctuate? Here’s a quick look at the key benchmarks and factors that influence oil pricing! 🛢️📈 Key Oil Price Benchmarks: 1. Brent Crude: Leading global benchmark, sourced from the North Sea. West Texas Intermediate (WTI): North American benchmark, known for its high quality. 2. Dubai/Oman: Key benchmarks for oil exported from the Middle East to Asia. 3. Urals: Russian oil blend used for pricing exports to Europe. 4. Tapis: Malaysian oil used as a benchmark in the Asia-Pacific region. 5. Bonny Light: Nigerian oil used in African and Mediterranean markets. 6. Mexican Basket: Blend of Mexican crude oils for Latin American markets. 7. OPEC Basket: Average price of oil from OPEC member countries. Factors Influencing Prices: 1. Supply and Demand: Global production levels and consumption trends. 2. Geopolitical Events: Political stability, conflicts, sanctions, and trade policies. 3. Market Speculation: Traders buying and selling oil futures. 4. Currency Exchange Rates: Impact of US dollar fluctuations. Real-World Scenario: A European refinery buys Brent Crude at $70/barrel. A geopolitical event causes prices to spike to $80/barrel. Without a futures contract, costs would significantly increase. Why Benchmarks Matter: Benchmarks like Brent Crude, WTI, and the OPEC Basket provide standard pricing references, reflecting market views on oil quality and location. Understanding these aspects helps demystify the complexities of oil pricing. It’s a dynamic interplay of market forces, geopolitical events, and economic principles! 🔗 Let’s connect and discuss more about the energy sector, market trends, and economic impacts! #OilPrices #EnergyMarkets #BrentCrude #WTI #OPECBasket #Economics #GlobalTrade #MarketTrends #OilBenchmarks

Oil prices remained relatively stable despite the US Federal Reserve's interest rate cut. Market sentiment was not significantly boosted, as concerns over global economic growth and oil demand outweighed the potential benefits of lower rates. The rate cut, aimed at stimulating economic growth, had been expected. However, its impact on oil prices was muted, with Brent crude hovering around $72 per barrel and WTI crude stabilizing at $66 per barrel. Weakening global demand, particularly in China, continues to weigh on oil markets. OPEC's production cuts and US sanctions on Iran and Venezuela provide some support, but investors remain cautious. The International Energy Agency (IEA) has lowered its 2024 oil demand growth forecast, citing slowing economic expansion. As market uncertainty persists, oil prices are likely to remain volatile, influenced by geopolitical and economic developments. . . . #OilMarketUpdate #USRateCut #GlobalEconomicGrowth #OilDemandConcerns #EnergyMarketVolatility #tribunetrends

🌍 Oil Prices Remain Stable Amidst Middle East Tensions and Weak Global Demand Concerns Oil prices are largely unchanged in late European trade, as the market grapples with ongoing geopolitical tensions and weak global demand. While escalating tensions between Israel and Iran could potentially drive prices higher, traders are now focusing more on market fundamentals. Concerns over sluggish demand from China—the top crude importer—and expectations of a global supply surplus next year are weighing on sentiment. In addition, U.S. crude oil inventories are expected to rise for a third consecutive week, as per a Wall Street Journal survey. Traders are keenly awaiting the official EIA report due Thursday, which could influence price direction further. Current Prices: Brent crude: $74.29 a barrel (flat) WTI crude: $70.50 a barrel (-0.1%) My Take on the Technicals: In the attached chart, the blue zones represent key support areas where oil could potentially see a bullish reversal if buyers step in. These are strong demand zones that historically triggered price rebounds. Keep an eye on these levels if you’re tracking price action for opportunities: First Blue Zone (Support 1): Around $66.8 to $68, oil could find some buyer interest and bounce back from this area. Second Blue Zone (Support 2): If the first support fails, the next key level is between $63 and $64.8, which could act as a stronger area of accumulation for buyers. Stay tuned for Thursday’s EIA data, which could determine whether we see a bounce from these zones or a further price drop. #OilPrices #CrudeOil #WTI #BrentCrude #MarketAnalysis #MiddleEast #GlobalDemand #TechnicalAnalysis #TradingOpportunities #EIAReport

Oil prices increased slightly following a strong increase in the first quarter of 2024. This happened because there were recent signs of recovery in China, thus supporting the demand outlook. The price of West Texas Intermediate (WTI) oil for the May 2024 contract rose 0.35% or 0.29 points to US$83.46 per barrel. Meanwhile, the price of Brent oil for the June 2024 contract also rose 0.33% or -0.29 points to US$87.29 per barrel. China's industrial activity picked up in March 2024, bringing a five-month decline to a halt. This then raises hopes that consumption in the largest crude oil importing country may improve. Crude oil prices have also strengthened in 2024. This strengthening occurred because OPEC+ cut supply to support higher prices, and the impact of increased cash flows from outside the cartel. Then, OPEC is also expected to confirm its current production policy at an online review meeting scheduled for Wednesday (3/4). The increase in oil prices also occurred due to Ukraine's attack on Russia's energy infrastructure, and increasing tensions in the Middle East. Next, Goldman Sachs in a note, said that stronger oil demand in Europe also helped prices. He added that weakening US supply growth and an extension of OPEC+ production cuts until 2024 were also bullish. Last month, Goldman also said that commodities would strengthen in 2024, because the central bank cut interest rates, helping industrial and consumer demand. Read our other insightful economic news: https://lnkd.in/exQ-kXwE #FPG #Fortuneprimeglobal #commodity #equity #technicalanalysis #technology #news #investors #intraday #investing #fundamentalanalysis #stake #markets #liquidity #nasdaq #forex #portfolio #trading #capital #stocks

🌍 𝐁𝐫𝐞𝐧𝐭 𝐜𝐫𝐮𝐝𝐞: A Critical Turning Point for Global Markets ⛽ As of September 2024, 𝐁𝐫𝐞𝐧𝐭 𝐜𝐫𝐮𝐝𝐞 𝐩𝐫𝐢𝐜𝐞𝐬 have hit their lowest levels since 2021, trading near $70/barrel. The price drop stems from a combination of weak demand in China, oversupply concerns, and reduced refinery activity. While OPEC+ has delayed further production cuts, rising non-OPEC supply continues to place downward pressure on prices. For investors, this presents 𝐛𝐨𝐭𝐡 𝐫𝐢𝐬𝐤𝐬 𝐚𝐧𝐝 𝐨𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬. Lower oil prices could provide relief to inflationary pressures but also signal slowing global economic growth. The energy sector will be one to watch as we approach 2025, with potential for volatility amid shifts in supply-demand dynamics. 📊 Key Takeaway: Navigating these price fluctuations through solid financial analysis and modeling will be key for businesses and investors in energy and related sectors. #Finance #OilMarkets #BrentCrude #InvestmentBanking #GlobalEconomy #Commodities

Market Update - 5th April, 2024 🔥 Oil and Gas Dynamics Crude oil prices have surged, influenced by geopolitical tensions and OPEC+ decisions to maintain production cuts. This has led to Brent crude reaching near $90 a barrel. The market remains sensitive to geopolitical developments, including Middle East conflicts, affecting global supply dynamics. In the United States, natural gas inventories remain high due to consecutive warm winters, potentially impacting future pricing and production strategies (OilPrice). 🌱 Global Fertiliser Trends Fertiliser prices are experiencing notable shifts, with significant price decreases in markets such as DAP FOB NOLA and Urea FOB US Gulf. For example, DAP FOB NOLA futures for May 2024 have decreased significantly to $495.00. Similarly, Urea FOB US Gulf futures for May 2024 are down to $310.00. These movements indicate a softening in the fertiliser market, possibly due to adjustments in global agricultural demand and supply chain dynamics. Note: prices adjusted to April 2024. 🛳️ Maritime Supply Chain Update The maritime sector faces ongoing challenges and adaptations due to geopolitical tensions and supply chain adjustments. Shipping alliances like the OCEAN Alliance have extended their commitments, suggesting a focus on stability and service continuity in global trade routes. 🌍 Global Economic Insights The global economy continues to navigate through uncertainties, with central banks closely monitoring inflation and economic growth to adjust monetary policies accordingly. The Federal Reserve and the European Central Bank are under scrutiny as they balance inflation control with economic stimulus, affecting commodity and financial markets globally. 🤝 Engage with Us Stay informed with our analysis on commodities, energy trends, and the maritime supply chain. Join the conversation and share your insights. Discover more by visiting waypointcommodities.com or connecting with our Head of Sales, Samantha Drury, at samantha@waypointcommodities.com #Agriculture #Fertilizer #Urea #NaturalGas #OilMarkets #GlobalTrade

Oil dipped in Asian trading as investors weighed signs of a tightening market against persistent concerns around demand. Oil has been caught between the bullish tailwinds of lower OPEC+ output and rising Middle East tensions, and concerns about the outlook for consumption from top importer China. That’s led to futures taking their cue from the fluctuations of wider stock markets at times. #EnergyConnects #energynews #energyindustry #news #oott #oilandgasindustry #opec

Oil Prices Hover Near Two-Week Low Following Opec’s Demand Forecast Reduction Oil prices hovered near a two-week low on Tuesday after a 5% decline over the past two sessions, as investors processed OPEC’s recent downgrade in demand forecasts, a stronger U.S. dollar, and a lukewarm response to China’s latest economic stimulus measures. Brent crude edged up by 6 cents to $71.89 a barrel, while U.S. WTI gained 8 cents, closing at $68.12. Both benchmarks had reached their lowest levels since October 29 on Monday. OPEC revised its 2024 global oil demand forecast downward once again, marking the fourth consecutive revision. The group’s challenging market outlook has also led OPEC+ (OPEC and allies like Russia) to delay a planned production increase originally scheduled for December. China recently announced a 10-trillion-yuan ($1.4 trillion) debt relief initiative aimed at easing financial pressures on local governments. Following his November 5 election win, former U.S. President Donald Trump has raised the possibility of new tariffs on Chinese imports, which could further strain demand. Analysts noted that China’s relief package might not be enough to significantly spur economic growth. Trump’s expected foreign policy choices, including Senator Marco Rubio as a possible Secretary of State, add to the uncertainty as Rubio has long supported a tough stance on China, Iran, and Cuba. The dollar’s recent gains make oil more expensive for foreign buyers, potentially dampening demand. In Europe, investor confidence declined as both Trump’s election victory and political upheaval in Germany raised concerns over Germany’s already struggling economy. European Central Bank officials cautioned that protectionist U.S. policies could curb global growth, stressing the need for stronger preparation than in 2018. Read our other insightful economic news: https://lnkd.in/exQ-kXwE #FPG #Fortuneprimeglobal #commodity #equity #technicalanalysis #technology #news #investors #intraday #investing