WTI Price Analysis: Oil prices decline after EIA data, resilient USD

México Noticias Noticias

WTI Price Analysis: Oil prices decline after EIA data, resilient USD
México Últimas Noticias,México Titulares
  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

In Thursday's session, the West Texas Intermediate (WTI) retreated below $87.00, near $86.30, after releasing the Energy Information Administration (E

Global tighter supply amid further extensions of voluntary cuts on OPEC+ countries limits the downside for WTI.In Thursday's session, the West Texas Intermediate retreated below $87.00, near $86.30, after releasing the Energy Information Administration stock data. On the USD side, despite falling yields, it stays resilient and contributed to the WTI’s decline.decreased by 6.37M in the first week of September, higher than the expected 2.06M, but failed to trigger a reaction on the WTI.

On a positive note, Saudi Arabia, the biggest Oil exporter in the world, is set to extend its voluntary production cuts throughout the rest of 2023 by 1.66 million barrels per day after announcing a 1 million reduction in July. In that sense, supply forces may limit the downside for the WTI. Analyzing the daily chart, the WTI's technical outlook is bullish in the short term, butstill flash overbought signals meaning that the price may correct in the next sessions.

Hemos resumido esta noticia para que puedas leerla rápidamente. Si estás interesado en la noticia, puedes leer el texto completo aquí. Leer más:

FXStreetNews /  🏆 14. in US

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

WTI Crude Oil: Will the Boom and Bust Cycles Continue?WTI Crude Oil: Will the Boom and Bust Cycles Continue?Commodities Analysis by Candy Matheson covering: Crude Oil WTI Futures, ProShares UltraShort Bloomberg Crude Oil, ProShares Ultra Bloomberg Crude Oil, ProShares UltraShort DJ-UBS Crude Oil. Read Candy Matheson's latest article on Investing.com
Leer más »

WTI crude oil jumps 1% amid extended cuts by Saudi Arabia and Russia; US inventories eyedWTI crude oil jumps 1% amid extended cuts by Saudi Arabia and Russia; US inventories eyedWestern Texas Intermediate (WTI), the US crude oil benchmark, advanced some 1% on Wednesday due to further draws on US crude oil inventory, while Saud
Leer más »

WTI looks to approach $87.00 level, focus on EIA Crude Oil dataWTI looks to approach $87.00 level, focus on EIA Crude Oil dataWestern Texas Intermediate (WTI), the US crude oil benchmark, snaps a two-day winning streak. Spot price trades lower around $87.20 during the early t
Leer más »

GBP/JPY Price Analysis: Bulls ready to test 186.00 in the short termGBP/JPY Price Analysis: Bulls ready to test 186.00 in the short termThe Pound Sterling (GBP) gained ground against the Japanese Yen (JPY) amid risk aversion, which triggered flows toward the safe-haven status of the Gr
Leer más »

Silver Price Analysis: XAG/USD falls below the 50-DMA eyeing the 200-DMA at $23.50Silver Price Analysis: XAG/USD falls below the 50-DMA eyeing the 200-DMA at $23.50Silver price retraces and breaks technical support at the 50-day Moving Average (DMA) on Tuesday after hitting a daily high of $23.99. The $23.71 area
Leer más »

GBP/USD Price Analysis: Cable bears need validation from 1.2530 and US ISM Services PMIGBP/USD Price Analysis: Cable bears need validation from 1.2530 and US ISM Services PMIGBP/USD portrays a corrective bounce off the short-term key support line while picking up bids to 1.2570 during early hours of Wednesday’s trading. Th
Leer más »



Render Time: 2025-03-01 00:53:37