OIL PRICES CLIMB ON UPGRADE TO IEA DEMAND FORECAST
Brent Oil was trading 1.13% up at $84.22.
Oil prices rose by about 1% on Thursday after the International Energy Agency said that record natural gas prices will boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supplies.
Brent crude futures gained 87 cents, or 1.1%, to $84.05 a barrel by 1010 GMT after falling 0.3% on Wednesday. U.S. West Texas Intermediate (WTI) crude futures climbed 77 cents, or 1%, to $81.21, more than recouping the previous day’s 0.3% decline.
Brent Oil, RSI Stood at 72.428, the current price is trading Above All the Moving Averages. So, a Buy trade can be executed with the following target and stop-loss:
TRADE SIGNAL-Brent Oil– Buy: 84.20, TARGET:-90.20, STOP LOSS:- 81.20.
https://www.capitalstreetfx.com/en/oil-prices-climb-on-upgrade-to-iea-demand-forecast/
#CrudeOil #Crudeoilforecast #BentCrude #Wti #CommodityAnalysis
Brent Oil was trading 1.13% up at $84.22.
Oil prices rose by about 1% on Thursday after the International Energy Agency said that record natural gas prices will boost demand for oil and top oil producer Saudi Arabia dismissed calls for additional OPEC+ supplies.
Brent crude futures gained 87 cents, or 1.1%, to $84.05 a barrel by 1010 GMT after falling 0.3% on Wednesday. U.S. West Texas Intermediate (WTI) crude futures climbed 77 cents, or 1%, to $81.21, more than recouping the previous day’s 0.3% decline.
Brent Oil, RSI Stood at 72.428, the current price is trading Above All the Moving Averages. So, a Buy trade can be executed with the following target and stop-loss:
TRADE SIGNAL-Brent Oil– Buy: 84.20, TARGET:-90.20, STOP LOSS:- 81.20.
https://www.capitalstreetfx.com/en/oil-prices-climb-on-upgrade-to-iea-demand-forecast/
#CrudeOil #Crudeoilforecast #BentCrude #Wti #CommodityAnalysis
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Oil prices climb on upgrade to IEA demand forecast
Brent crude futures gained 87 cents, or 1.1%, to $84.05 a barrel by 1010 GMT after falling 0.3% on Wednesday. U.S. West Texas Intermediate (WTI) crude futures climbed 77 cents, or 1%, to $81.21