Oil prices are still below the price level of 80 for US Crude oil, the PBOC's decision to keep interest rates unchanged only had a temporary impact in increasing oil prices to reach the price level of 80.03 before finally falling again to a low of 78.61. Oil price increases may be restrained due to Fed officials' doubts about the 2% inflation target. inflation developments may be unstable and indicate that the decline is only temporary and there will be no further progress in inflation this year. Elsewhere, gold and silver experienced consolidation after a strong rally last week, however, precious metals may still receive support from geopolitical risks, and the possibility of the Fed cutting interest rates.

US crude oil prices are still below the 80 price level. On Monday, the market may turn its attention to the monetary policy of the People's Bank of China (PBoC), which is expected to remain dovish as the economy recovers. China is the largest oil importer in the world. On the other hand, easing US inflation also has the potential to increase oil demand. The released CPI gives hope to the Fed to lower interest rates at its September meeting. However, Fed officials seem still don't seem convinced that the inflation rate has reached the 2% target. New York Fed President John Williams said “In the near term, I don't see the greater confidence we need to see inflation progress towards the 2% goal,” a Reuters source

US crude oil is still trading below the price level of 80. Interesting news, Saudi Arabia, which is the largest oil exporting country, seems worried because too much heat could cause high inflation. The country is starting to encourage growth in non-oil economic sectors. Minister of Finance Audi Al-Jadaan said will give more time for massive investment projects under the Vision 2030 plan to diversify the oil-dependent economy. On the other hand, lower-than-expected US inflation data is expected to cool the Fed to cut interest rates. Geopolitical risks in the Middle East are also a concern, providing support for oil

CPI data showed that the actual value was lower than forecast, putting pressure on the USD. On the other hand, the International Energy Agency also cut its forecast for global demand by 140,000 barrels to only 1.1 million barrels per day due to falling demand from developing countries. Elsewhere, Russia reportedly revealed oil reserves in the British Antarctic territory worth around 511 billion barrels.

WTI Oil prices yesterday declined after reaching a high of 78.87. Oil prices dropped to a low of 77.26 and still traded in the range. Analyst says the decline in oil prices was caused by US PPI data rising more than expected in April. This strengthens the expectation that the Fed will maintain high interest rates, resulting in an economic slowdown and reducing oil demand. On the other hand, tensions in the Middle East support oil prices, while Citigroup expects Brent oil prices to fall to around $70 in the third quarter of 2024.

WTI oil prices are trying to rise after falling last weekend. Rising oil prices rose before OPEC's monthly report which will be released on Tuesday this week. In the previous month's report, OPEC expected global demand to increase in anticipation of rising transportation fuel consumption and holiday driving. Apart from that, the market is also waiting for US inflation data which will be released on Wednesday and will provide an idea of ​​the Fed's possible next policy regarding interest rates.

Oil prices today continue to decline as the price traded is still below 80-level prices. Some important events that may be of concern to the market in the next week include US inflation, US retail income, Chinese economic data, and British economic data.

The CPI data which will be released Wednesday is one of the important data related to US inflation. Higher inflation data is expected to reduce expectations of interest rate cuts that fuel market volatility. China will publish economic data on Friday showing the country's economic performance.

In the UK last week the BoE moved closer to cutting interest rates, analysts predicted average weekly earnings would increase 5.9% in the first quarter on an annual basis, although still solid but moderate wage growth raised hopes of a rate cut next June
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Oil prices are still steady below the price level of 80 for WTI oil. Even though OPEC has signaled an extension of production cuts, on the other hand, non-OPEC countries may experience an increase in production. Analysts predict oil prices may be bearish as non-OPEC supplies continue to pump more oil, barrels of OPEC+ reserves are likely to emerge, and demand is expected to increase as a result of stubborn inflation. Elsewhere, gold prices soared because several global central banks finally cut interest rates, China's export data was higher than forecast, and geopolitical tensions in the Middle East and Ukraine.

Yesterday's oil price, US crude oil fell to the lowest level of 76.68 and rebounded to form a bullish candlestick with a long tail at the bottom of the candle. Industry data released late on Tuesday showed that US inventories unexpectedly increased in the week to May 3, which was the reason for the decline in oil. However, geopolitical tensions in the Middle East have pushed oil prices to rise. Israel's attack on Rafah appears to want to eliminate Hamas despite ceasefire efforts initiated by Egypt and Qatar

US crude oil prices are steady near the 77.80 price level, the API report which is still below analyst expectations seems to be affecting oil prices. Analysts expected an increase in supplies of 1,430 million barrels draw but according to API, there was only a small build by 509,000 barrels.
On the other hand, the Fed, which is still reluctant to cut interest rates, could also influence the strengthening of the USD because high interest rates allow foreign capital to flow into the USD, which can result in the USD strengthening.

The price of US crude oil is still below the 80.00 price level. Oil prices plunged last week due to rising US oil inventories. Even though tensions are escalating, the war in the Middle East is still raging. The US Nonfarm Payrolls (NFP) data released on Friday reported that fewer jobs were created and the Unemployment Rate rose to 3.9%. Bloomberg reported that over the weekend, state-owned Saudi Aramco raised the official selling price of Arab Light crude for customers in Asia in June by 90 cents to $2.90 a barrel above the Oman-Dubai regional benchmark price.

The volatility and fluctuations of the spot forex market cannot be predicted with certainty, market changes are very dynamic and many factors drive the market. Today US Crude oil rose slightly after last week's plunge, news that the G7 will completely end the use of coal by 2035 makes it possible to increase further the use of renewable energy rather than fossil fuels including oil.

After the price of US crude oil fell to a low of 78.12, the market seemed to be in doubt, this was reflected in the appearance of the Doji candle which is an indecision candle. Today's market may be waiting for NFP news to be released. traders, previous data shows 303k and forecast 238k. If the actual data is greater than the forecast, it usually has good implications for the USD. Doubts about the Fed raising interest rates seem not to get an immediate response in the oil market.

The market seems to be ignoring tensions in the Middle East, yesterday oil prices fell again after successfully breaking the psychological level of 80.00. Analysts predict a drop in oil prices due to increasing US oil inventories. Data from the American Petroleum Institute showed late Tuesday that US crude inventories grew by 4.9 million barrels in the week to April 26, dashing expectations of a 1.5 million barrel increase.

Today's data shows WTI oil fell from a high of 82.99 to a low of 80.67. Although tensions in the Middle East still show no signs of ending, it seems that the market is also influenced by other influences such as the strengthening of the USD and US data, CB Consumer Confidence which fell to the lowest level since July 2022, and manufacturing activity in the Middle East.

The strengthening of the US dollar index also contributed to pressure on oil prices amidst Middle East geopolitical tensions. Hamas leaders have arrived in Egypt to negotiate a ceasefire with Israel through mediators from Egypt and Qatar. However, Israel seems to have canceled sending its representatives to mediate and they might attack Rafah despite many countries opposing it.

OPEC challenges reports that predict oil demand will fall. OPEC Secretary General Haitham Al Ghais called on those predicting the end of oil prices to take a more relaxed stance as these predictions could be dangerous. OPEC has repeatedly argued that forecasts predicting a rapid end to the oil era are not based on reality and that stretching them could discourage new investment in oil and gas supplies that the world needs. US crude oil prices are slightly down 0.22% today from opening prices.

Oil prices fell slightly at the start of the week on Monday by around 0.67%. Even though it has declined and choppy market, tensions and the escalation of war in the Middle East are still an important focus for economists. The World Bank warned that conflict in the Middle East could increase oil prices beyond $100 a barrel.

Since January, the bullish movement in the price of the USDJPY pair has brought the price of the Japanese Yen to a weakening that has never occurred in history. USDJPY has reached the price level of 156. It is known that the BOJ has ended negative interest rates and raised interest rates by 0.1% in Japanese history. Citi analysts said that although the BoJ took steps to control the currency, it was only successful in the short term and had not reduced the weakening of the Japanese Yen. Meanwhile, today's US crude oil price also rose 0.31% from the previous day. Global geopolitical tension in the Middle East is still an issue that may receive a market response.

Oil prices tend to be stable week on week despite a significant US oil inventory build offset by a decline in US crude oil stocks. It seems that traders are also less worried about supply disruptions due to tensions in the Middle East. However, Standard Chartered has predicted that global oil demand will pick up strongly in May and June, exceeding 103 mb/d for the first time in May. US crude oil is today at 82.43 price level.

After falling to a low of 80.73 US crude oil rose to price level 83. The trend structure still tends to be bullish referring to MA 100. Global geopolitical tensions in the Middle East are still a concern for many analysts who influence financial markets. Other news is that UK wind has overtaken fossil fuels to become the largest power generation source.

Oil prices are consolidating near the lower band at around 81 after falling several days ago. Although geopolitical tensions can influence oil prices, high supply also influences oil prices.

Oil-related news, Venezuela tries to divert oil sales using US Tether to avoid sanctions. State-run oil company PDVSA was ordered to close transactions in line with sanctions at the end of May and it tried to redirect its oil sales using USD-pegged Tether.

US crude is still trading at around 81 levels despite increasing tensions in the Middle East. It seems that the situation in the Middle East has not yet caused oil prices to soar as many analysts predicted. Oil prices were volatile when Iran attacked Israel, but it was only a temporary fluctuation and oil entered the consolidation zone. On the other hand, OPEC+ returning supply of 2 million bpd could affect oil prices.

The market appears volatile amid global geopolitical uncertainty and geopolitical turmoil in the Middle East. Gold prices jumped and fell in two hours of trading. On the other hand, US Crude oil also experienced increased volatility, marked by a long candlestick forming on the daily timeframe.

Unlike what many traders expected, oil prices plunged yesterday from 84.93 to a low of 81.98 even though the escalation of the Iran vs Israel war has become an important issue in global geopolitics. In fact, according to the EIA report, there was an increase in oil stockpiles which caused prices to plummet. Elsewhere, gold prices are stable at around 2374. There has been no drastic price increase in gold, but long-term bullish potential is still possible.

The debate about Israel retaliating against Iran is still an important issue related to oil, apart from the US election, which is also important news in the financial markets. Some analysts worry that rising tensions in the Middle East could cause oil prices to hit $100 due to a direct threat to oil supplies.

The Israel vs Hamas war has dragged in several other countries including Yemen and Iran. Iran's recent attack received a response from Israel that they vowed to retaliate against Iran's attack when oil prices fell. The plan will be coordinated with the US as Israel's main ally so far.
In the midst of heated geopolitics, there is a possibility that oil prices will rise, besides gold may still be an option as a safe haven asset.

Oil prices are still wavy despite the escalation of the war in the Middle East increase because Iran began attacking Israel with drones, cruise missiles, and ballistic missiles. However, oil prices that day fell from a high of 87 to a low of 84 for US crude oil. Longer term though, simmering geopolitical tensions some fear could send oil prices up more than $100

Israeli media reported, "The United Arab Emirates (UAE) has announced the suspension of diplomatic coordination with Israel following the death of seven World Central Kitchen humanitarian workers in Gaza." Geopolitical news in the Middle East seems to be the reason for soaring oil prices. US crude oil rose the highest throughout 2024 at 86.70. Apart from the UAE, Iran's threat also increased after the Israeli attack on the Iranian embassy in Damascus.

Oil prices moved flat at 85.14 after yesterday forming the highest in 2024, as notes at the Joint Ministerial Monitoring Committee (JMMC) meeting at its meeting on Wednesday suggested no change to production cuts in OPEC+. The group continues to cut oil production output at least by the end of the first half of 2024.

US crude oil prices eventually rose to the price level of 84.59 and formed a new high at 85.04. According to Oilprice, the oil rally was caused by a decline in United States crude oil inventories this week by 2.286 million barrels for the week ending March 29. Analysts expected a 2 million barrel drop in inventories. In the previous week, crude oil inventories amounted to 9.337 million.

OPEC output in March decreased. Based on the Reuters survey data, OPEC output for March was at 26.42 million barrels per day on average, compared to 50,000 bpd for February. Yesterday oil prices were observed to rise to reach the highest in 2024 at 83.98 for US Crude oil. Oil prices have risen since early Monday this week.

The price of US crude oil is still stuck at level 82, it is hoped that reports that Russia will cut oil production in the second quarter can push up oil prices. Russian Deputy Prime Minister Alexander Novak delivered the report on Friday