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Mohammed Imran
Mohammed Imran
The geo-political risk and expectation of three rate cuts from US fed has triggered rally in oil prices, says Mohammed Imran.
Oil prices could fall back to early June level of $72.50 as demand side fundamental are looking weak due to abysmal economic performance of China, says technical analyst Mohammed Imran.
Budget 2024-25: How to trade WTI crude oil today? Find out strategy, key levels here
US June CPI will be out tonight, and consensus is looking for a 0.2 percent monthly rise and 3.4 per cent annual gains in the crucial monthly core CPI reading.
Weakness in crude demand in China, the world's second-largest crude consumer, is bearish for oil prices, said analyst at Sharekhan by BNP Paribas.
Recent economic data from across the region like Asia, Eurozone and the US are indicating an economic slow down ahead.
Crude oil prices at $83.50, hover near two months high driven by the renewed geo-political risk in the middle east and red sea region along with the threat of Hurricane Beryl
WTI/MCX crude oil outlook today: The overall weekly inventory report is disappointing as it is indicating slowdown in the US consumer/industrial demand
Crude oil strategy: Crude remains on track for a monthly gain. The immediate support for WTI remains at $ 78.78 (50-DMA) and short-term support stays at $77.13 (200-DMA)
Crude oil strategy for June 20, 2024: WTI crude oil could test resistance of $85 over the medium term
The WTI holding on to support of $78 in Asian hours, retreating from three weeks high of $79.12. hit on Wednesday
Oil prices are moving higher after posting three straight weekly declines following Opec+ decision on June 2
Commodity outlook: The economic slowdown has already been priced in by the markets and we expect limited downside in oil prices
Given the above-mentioned developments, we believe that the oil market is heading lower in the short to medium term due to softening of global economic conditions
Crude oil price outlook: WTI short term resistance is at $82 for the day, while short term trading range should be in range of $77-$82
Crude oil outlook and strategy: Analyst at Sharekhan believes buying WTI crude on correction would be a good strategy for the day
Brent crude oil outlook: Brokerage firm Sharekhan expects prices to trade in a broader range of $75-$80/b unless there is any major changes in terms of macroeconomics or geo-politics
Crude oil outlook: Crude oil prices are expected to trade in a fairly tight range ahead of the key OPEC+ meet on June 1
Any significant upside in Crude Oil can only be sustained by strong demand side fundamentals from the US and China, says Mohammed Imran, research analyst at Sharekhan BNP Paribas.
Crude oil prices have corrected significantly after posting 16 per cent gains for Q1-2024. However, since April the oil prices have lost roughly 7 per cent of their value, amid the easing of tensions