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Mid-east Conflict and OPEC+ Restraint Hopes Preventing a Sharp Oil Correction – TDS
Crude Oil Elliott Wave Technical Analysis [Video]
WTI Flat Lines Around $75.00, Seems Poised to Register Gains for the Second Straight Week
Update: WTI Crude Oil Moves Up as Israel Readies Its Response to Iran's Attack
Oil Gains as Traders Monitor Middle East While Stockpiles Climb
Reverse, reverse again and reverse again! What happened to the oil price roller coaster ride?
Affected by factors such as OPEC's plan to increase supply in December, the Brent crude oil price fell from over $90 in April to slightly below $70 in mid-September. Subsequently, following China's central bank's announcement of a "policy gift package" and intensified turmoil in the Middle East, oil prices reversed course with a weekly increase of over 9%. On Tuesday, China's National Development and Reform Commission held a press conference, but as the tensions in the Middle East did not escalate as expected, oil prices reversed again with a sharp 5% drop on Tuesday.
