Oil Prices Slide as US Lifts Sanctions Against Venezuela
The Middle East conflict has boosted USOil, but the commodity comes under pressure today, after the US lifted sanctions on Venezuelan oil
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The Middle East conflict has boosted USOil, but the commodity comes under pressure today, after the US lifted sanctions on Venezuelan oil
Last week’s movement by gold has changed its technical position. The candlesticks have moved above the 30-week EMA and the EMA has bullishly turned up. Moreover, the weekly RSI has popped above 50 (green rectangle) which is the bullish side of the indicator. The longer it maintains above 50, the greater the momentum support for the yellow metal. Another positive is that gold’s candlesticks have broken out above the green…
XAU/USD eases after its best week in ten months, which was sparked by safe-haven flows to the Hamas-Israel war
Capital is rotating into havens such as gold and bonds and pushing the price of crude higher, as Israel seemingly prepares for its ground offensive against Hamas. Israel’s military told Palestinians today to start evacuating northern Gaza and move to the southern part of the territory. Consequently, market participants are on edge as the conflict looks to escalate, following Israel’s retaliation for the brutal Hamas attack that took place in…
UKOil retraced significantly towards its end-of-August low (green dashed horizontal) before finding support. Monday saw significant upside when the market opened following Saturday’s brutal attack by Hamas on Israel and the start of a new Middle East conflict. Nerves still abound that the conflict may spread in the region affecting supply lines, and risk premiums are keeping the oil price supported.
USOIL got a boost on Monday after the armed conflict erupted in the Middle East, but now turns cautious as markets contemplate the potential impact on supply and demand
NGAS extended its gains on Monday due to the Hamas-Israel conflict, but turns cautious today as EIA expects a slowdown in global demand growth ahead and warns of potential market volatility
Markets turn to the safety of gold, as the deadly attack of Hamas on Israel and the country’s retaliation, spark risk aversion
Oil prices rise and stocks of energy giants get a boost, while those of major airliners drop, after Palestinian group Hamas launched a multi-pronged attack on Israel, reigniting conflicts in the Middle East
Oil has dropped substantially this week and particularly over the last twenty-four hours. Currently, Brent crude (UKOil) is down around 8.6% for the week and is trading near $84, and WTI (USOil) is down 9.2% for the week to trade near $82.45.
A gold price top-down analysis.
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