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Crude Stabilises Following Fresh Drop Lower - EIA Up Next

OPEC Cuts Demand Forecasts on China OutlookOil prices are looking tentatively more stable today following a sharp drop yesterday. Crude futures sank to their lowest level since May 2023 as concerns...

Crude Breaks Key Support Level

Crude Fall DeepensOil prices remain under pressure this week with crude futures falling to their lowest level since December 2023. The move comes despite ongoing weakness in the US Dollar and reflects...

Oil Recovering Following EIA Drawdown Data

Crude Fighting BackFollowing heavy selling across the start of the week, oil prices have since stabilised and are now starting to recover. Crude futures found support into the 72.61 level with the...

Oil Heavily Sold Despite USD Weakness

Crude Under PressureOil prices have been under heavy selling pressure over the last week with crude futures reversing sharply from highs around the $80 mark. Price is now testing the 72.61 level...

Crude Rally Fading Sharply As Demand Concerns Hit

Crude Under PressureFollowing a solid rally at the start of the week, oil prices have run into heavy selling interest over the week. Crude futures are down around 6% from the week’s highs as demand...

Crude Rallies on EIA Data & Middle East Fears

Fresh EIA Draw Boost OilCrude oil prices spiked higher yesterday after news of a larger-than-forecast inventories drawdown, as recorded by the EIA.  Falling by a further 3.7 million barrels, US crude...

Oil Sell-Off Stalls Ahead of EIA Data

Oil Holding At Support… For NowOil prices are seeing some relief today with crude futures trading a little higher off the week’s lows. Some shift in tone from the BOJ has seen JPY pulling back from...

Crude Rallies on Strong US Demand

Huge EIA Drawdown SeenOil prices are looking a little more muted today following a strong rally yesterday as traders digested the latest EIA inventories data. The group reported a drawdown of 4.9...

Crude Softens Despite Huge EIA Deficit

Huge EIA Deficit SeenOil prices are looking a little cooler today as fears over the health of the US economy have seen the futures market pulling back from highs. The dip comes despite data from the...