Commodities Analysis by Investing.com (Barani Krishnan) covering: Brent Oil Futures, Crude Oil WTI Futures, ProShares UltraShort Bloomberg Crude Oil, ProShares Ultra Bloomberg Crude Oil. Read Investing.com (Barani Krishnan)'s latest article on Investing.
Flip-flops in oil’s war risk driving traders crazy as the world awaits to see if Israel will make next move on Gaza to flush out Hamas
That was after a day when signs of a potential de-escalation saw traders dialing down bets that the conflict would draw in other Middle Eastern countries and disrupt oil supplies in the crude-rich region. Before we examine those — to determine the flag posts for the next rally or selloff — let’s list the bull case and bear case for oil and see how they stack up in tipping the market either way.An all-out ground offensive on Gaza by Israeli forces would likely provide the spark for $90 and above WTI pricing, especially if hostilities are sustained over an extended period and contagion develops from the war, ultimately impacting the Middle East’s oil traffic.
Within that, Saudi crude exports to the US are set to drop to 241,000 bpd in October, Kpler figures showed, down from 286,000 bpd in September and from 410,000 bpd in October 2022. That doesn’t look like it's going to end anytime soon with the US Commerce Department reporting on Thursday a forecast beating year-on-year Gross Domestic Product, orThe figure was well above the 4.3% growth consensus of Wall Street’s economic forecasters, although it was below the 5.4% predicted by the Atlanta Fed, a division of the Federal Reserve.The central bank has two more rate decisions for this year, on Nov. 1 and Dec.
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Natural Gas Above $3 Requires Braving Record Output, UnHelpful Chart/WeatherCommodities Analysis by Investing.com (Barani Krishnan) covering: Natural Gas Futures, WisdomTree Natural Gas 1x Daily Short, TR/CC CRB Natural Gas, iPath® Bloomberg Natural Gas Subindex Total Return(SM) ETN. Read Investing.com (Barani Krishnan)'s latest article on Investing.
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Crude Oil Futures: Further upside unlikely near termOpen interest in crude oil futures markets shrank for the third consecutive session on Wednesday, now by around 4.3K contracts according to preliminar
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Closing prices for crude oil, gold and other commoditiesBenchmark U.S. crude oil for December delivery fell $2.18 to $83.21 a barrel Thursday. Brent crude for December delivery fell $2.20 to $87.93 a barrel. Wholesale gasoline for November delivery fell 2 cents to $2.26 a gallon. November heating oil rose 1 cent to $3.04 a gallon. November natural gas rose 20 cents to $3.21 per 1,000 cubic feet.
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US crude oil stocks up last week, both at federal level and in CushingUS crude oil stocks up last week, both at federal level and in Cushing
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Crude Oil rebounds, WTI jumps over $2.50/barrel as Gaza tensions tighten once moreWest Texas Intermediary (WTI) Crude Oil is seeing a geopolitical tension-fueled spike on Wednesday as the Gaza conflict continues to escalate, with Is
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Closing prices for crude oil, gold and other commoditiesBenchmark U.S. crude oil for December delivery rose $1.65 to $85.39 a barrel Wednesday. Brent crude for December delivery rose $2.06 to $90.13 a barrel. Wholesale gasoline for November delivery rose 1 cent to $2.28 a gallon. November heating oil fell 1 cent to $3.03 a gallon. November natural gas rose 4 cents to $3.01 per 1,000 cubic feet.
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