Geopolitical tensions and U.S. factory activity drive mixed momentum, with EMA indicators signaling key price shifts.
WTI crude remains strong and approaches a key level, while natural gas pulls back from resistance.
JBC Energy Group Chairman Johannes Benigni says oil producers have successfully kept the market stable, but President-Elect Donald Trump could reshape the outlook in 2025.
Oil prices rose in early Asian trade amid positive sentiment.
Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth.
Natural Gas prices drop 7.07% to $3.52 as bearish sentiment dominates. Oil supported by China's demand, trading near $71.81.
Crude oil's breakout signals strength as it targets higher resistance zones, with key technical levels and bullish patterns guiding its upward trajectory.
Crude-oil prices climbed on Tuesday, but the U.S.-traded benchmark finished the year only marginally above where it started.
Wall Street analysts are projecting lower oil (BZ=F, CL=F) prices in 2025, with forecasts ranging from $65 to $76 per barrel. Roth Capital Partners senior energy analyst Leo Mariani and S&P Global Commodity Insights head of global oil Richard Joswick join Catalysts to discuss their oil market outlooks.
"The grid is going to be challenged" by A.I., according to Tamar Essner.
Oil prices holding steady on Tuesday but 2025 demand outlook weakens. Can OPEC+ cuts offset rising non-OPEC supply?
U.S. stocks traded slightly lower midway through trading, with the Nasdaq Composite falling around 50 points on Tuesday.