Oil

Technical Analysis

Oil falls $5.50 on the week as a head-and-shoulders pattern forms

oil

Oil falls $5.50 on the week as a head-and-shoulders pattern forms

  • WTI posts weekly close below $80 for the first time since early March
Adam Button
Adam Button
Friday, 03/05/2024 | 18:38 GMT-0
03/05/2024 | 18:38 GMT-0
Technical Analysis

Crude oil trading at session lows going into the settlement

Crude

Crude oil trading at session lows going into the settlement

  • Crude oil price hits session lows at $78.21, traders eye 100-day MA near $78 for potential bounce
Greg Michalowski
Greg Michalowski
Friday, 03/05/2024 | 18:29 GMT-0
03/05/2024 | 18:29 GMT-0
News

Baker Hughes US oil rig count 499 vs 506 prior

Baker Hughes US oil rig count 499 vs 506 prior

  • US oil rigs down 6 in the past week
Adam Button
Adam Button
Friday, 03/05/2024 | 17:03 GMT-0
03/05/2024 | 17:03 GMT-0
News

Iraq and Kazakhstan pledge to make up for OPEC quota overproduction before year end

Iraq and Kazakhstan pledge to make up for OPEC quota overproduction before year end

  • Statement from OPEC
Adam Button
Adam Button
Friday, 03/05/2024 | 14:07 GMT-0
03/05/2024 | 14:07 GMT-0
News

JP Morgan is looking for OPEC+ to extend its output cuts into H2 of this year

JP Morgan is looking for OPEC+ to extend its output cuts into H2 of this year

  • JPM expect supply curbs to be extended by the cartel and its axis friend
Eamonn Sheridan
Eamonn Sheridan
Thursday, 02/05/2024 | 20:55 GMT-0
02/05/2024 | 20:55 GMT-0
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