Oil

Goldman Sachs raises Brent crude oil price forecasts for 2024 and 2025

• Nudged up to $86/bbl and $82 from $85 and $80 previously

Suez Canal shipping chaos: Iran-linked Houthi terrorist attacks spark inflation concerns

• UK data reveals a 66% drop in Suez Canal traffic due to Houthi attacks, causing delays and higher costs.

No help from the inventory data as WTI crude settles down 55 cents

• Oil alternating between gains and losses

EIA weekly US oil inventories -6368K vs +825K expected

• Weekly US oil inventories

WTI Crude Oil Technical Analysis

• Crude Oil fell below the key $83 zone as the geopolitical risk faded. What’s next?

Oil - private survey of inventory shows a draw vs. the build that was expected

• This is from the privately surveyed oil stock data ahead of official government data tomorrow morning out of the US.

Oil climbs to $1.46 to settle at $83.36

• Better risk mood and talk of Iranian sanctions help

Oil snippets: 1 Barclays sees upside risk, 2 Venezuala to shift sales to digital currency

• Unrelated!

Oil bounces around before finishing lower by 29-cents

• WTI crude oil down slightly on the day

Power demand will turn out to be the toughest problem of the 2020s

• There isn't enough energy

US futures markets open for the week, equity indexes (ES & NQ) open up, oil down

Crude oil futures settle at $82.22. What are the technicals telling traders.

• Up $0.12 on the day

Baker Hughes oil rig count 511 vs 506 last week

• The weekly Baker Hughes rig count for the current week

Crude oil settles at $82.73

• $0.04 or 0.05%

US to reimpose oil sanctions on Venezuela

• There is a Chevron exception