Crude oil analysis shows WTI stuck in a bearish trend as oversupply, weak demand and OPEC production drive the weekly outlook and keep futures vulnerable to $50.
Crude oil futures firm as traders watch the $55.87 pivot, rising geopolitical risk, and falling U.S. production, shaping a bullish short-term oil outlook.
The move ramps up pressure on Caracas after Trump declared a blockade on sanctioned ships moving its oil.
Carley Garner believes there's more downside action coming for crude oil. She takes investors through her analysis in the commodity and how cooling tensions in the Russian-Ukraine War play a part.
Crude oil is attempting a short-term recovery near key support, but persistent oversupply and weak structure keep rallies suspect. Any upside is viewed as temporary unless major resistance levels are reclaimed.
Oil edges lower in early Asian trade amid headwinds. “The broader pressure continues to come from surplus signals and weak spot demand,” Sucden Financial said.
Former Exxon executive Meg O'Neill is set to become the first woman to lead an oil major.
Rebecca Babin, CIBC Private Wealth senior energy trader, joins 'Squawk Box' to discuss recent energy prices, how prices would react to solved geopolitical tensions and much more.
BP on Thursday made an abrupt shift in leadership, as CEO Murray Auchinloss is stepping down immediately after less than two years on the job.
WTI and Brent oil rebound as inventories fall and supply risks rise, while natural gas stabilises near key support with RSI improving and buyers stepping in.
About 70% of the country's oil exports rely on a fleet of sanctioned vessels now being targeted by the U.S. military.
Oil prices rose by more than 1% in early Asian trading amid geopolitical tensions.