WTI Prices Analisis: WTI corrects overbought conditions, outlook remains bright Oil WTI Energy Commodities
WTI retreated below the $83.00 area, still trading in highs since mid-April correcting overbought conditions.
Soft inflation figures from the US and weaker USD limit losses. Eyes on the Fed speaker later in the sessionIntermediate saw more than 1% losses as investors seem to be taking profits after jumping to a high since November 2022. However, a weaker USD may limit the session’s downside as well as tighter global supplies which cushion Oil prices.
The Consumer Price Index for the US rose by 0.2% MoM in July, as predicted, according to the US Bureau of Labor Statistics. However, the annual measure fell to 3.2% YoY, below the 3.3%. In line with expectations, the Core measure increased by 0.2% in the same month, while the YoY measure declined by 4.7% rather than the 4.8% anticipated.
On the upside, the prospects of further voluntary by the Saudis will contribute to further upside. In addition, a sluggish Chinese economy may push the local government to carry on more aggressive stimulus, which would bolster the economy of the world's biggest oil importer, meaning a higher energy demand. Analyzing the daily chart, the WTI technical outlook is bullish in the short term despite the price correction.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
WTI Price Analysis: WTI corrects overbought conditions following Chinese dataOn Tuesday, the West Texas Intermediate (WTI) barrel dropped below $81.00, weakened by a strong USD and soft Chinese manufacturing data released durin
Consulte Mais informação »
WTI Price Analysis: WTI jumps to multi-month amid tighter global supply and Chinese stimulus hopesWTI jumped to its highest level since November 2022 above $84.00. Tighter global supply and Chinese inflation data are fuelling Oil prices. EIA Oil stocks data came in higher than expected. On Wednesday, the West Texas Intermediate (WTI) rose to a high of $84.15, it highest level since mid-November 2022 and then settled around $83.00.
Consulte Mais informação »
WTI Price Analysis: Oil prices escalate to highs since April amid tighter supplyOn Thursday, the West Texas Intermediate (WTI) rose more than 1% to its highest level since mid-April, above $80.00. Investors seem to be weighing the
Consulte Mais informação »
See how high gasoline prices will go this summer as prices continue to riseGas prices are on the rise and the blame goes to an oil cartel and high temperatures affecting some oil refineries.
Consulte Mais informação »
Gas Prices Hit 9 Month High—Here’s Why And Where Prices Are HighestGas prices have increased by more than 50 cents in Florida over the past month.
Consulte Mais informação »
Gas Prices Hit 9 Month High—Here’s Why And Where Prices Are HighestThe national average price for a gallon of gasoline climbed to a nine-month high on Wednesday:
Consulte Mais informação »