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XTIUSD climbed high at 76.43, a continuation of the previous bullish trend. The Houthi threat in the Red Sea is still a concern for cargo ships, especially those linked to Israel. Executive A.P. Moller-Maersk Vincent Clerc told Bloomberg TV “We have not seen the threat level reach its peak, quite the opposite,” It is estimated that security threats in the Red Sea will continue to increase for up to a year by several shipping giants.

The price for US Crude Oil is at 73.94. Prices began to show signs of bull on February 5 by forming a reversal pattern with higher highs and lower highs. Tensions in the Red Sea and Suez Canal still pose a serious threat to the West linked to Israel. Reporting from Oilprice Western Ships Linked to Israel Pay 50% Extra Insurance Premium for the Red Sea. Marcus Baker, Marsh's global head of marine and cargo, said "The ships that have so far experienced problems, almost all have some element of Israeli or US or British ownership." On the other hand, Saudi Arabia has signaled a change in strategy towards oil. Saudi Ministry of Energy orders Aramco to maintain oil production at 12 million barrels per day, halting any expansion plans for domestic needs.

US Crude oil is at 73.38, the price rose from a low of 72.40 and formed a bull candle. Reporting from Oilprice, OPEC General Haitham al-Ghais said the global oil market will require an investment of $14 trillion over the next 20 years if oil-producing countries hope to meet global energy demand by 2045. According to him, global energy demand will increase between now this and in 2045 it will be 23 percent

Oil prices were observed to fall near the lower band, the decline in oil prices may be due to weakening demand in the global market after the recovery, apart from that the growth of renewable energy may also have an impact on oil demand. Amidst the geopolitical turmoil occurring in the Middle East and the Red Sea, Crude oil prices posted a high of 79.12 on January 28. After that, the price gradually fell and is now in the range of 74 near MA 50. The Joint Ministerial Monitoring Committee (JMMC) Meeting of the OPEC+ group held a meeting via video conference on Thursday and did not recommend the entire OPEC+ group take any action regarding crude oil production levels.

US crude oil dropped back to the low after Monday there was a gap at the high of 79.12. Now oil forms a bearish candle with a long body above the middle band line. The conflict in the Red Sea is getting hotter, where the Houthis and the US are attacking each other. Despite this, Saudi Aramco emphasized the manageable risks to its tankers when navigating the Red Sea despite the conflict. On the other hand, the Houthi group explicitly allows Chinese and Russian ships to pass safely, reflecting geopolitical alignment.

Tensions in Red Sea seem to be starting to have an impact on oil prices recently. US Crude oil prices began to form a bullish pattern after crossing the upper band line near the 75 price level. This may end the long-term decline that has been going on since September 2023. It is clear that today there is a gap in oil prices, the open price is much higher than the close last Friday. The price of US crude oil or XTIUSD is up high at 78.71 at the time of writing. Other fundamental news: US sanctions on Russia caused it to stop 10 million barrels of Russian crude oil for weeks. The 10 million barrels of oil were carried by 14 tankers, came from the Sokol type from Sakhalin-1 and remained unsold due to Western sanctions and were stranded in South Korea.

Even though it rose to a high of 75.38, the price was corrected again to level 74. Analysts still linking oil prices to tensions in the Red Sea and sufficient supply in the market. Oil prices continue to struggle for direction despite rising tensions in the Red Sea and Middle East region, as supplies remain sufficient.

Oil prices soared on yesterday's market, and US Crude oil rose and reached a high of 75.38 which in this point could be a resistance zone based on price history. According to analysts, oil prices soared because geopolitical risks took over fundamentals. Analysts say weak demand and slowing economic growth have prevented oil prices from soaring due to geopolitical developments.

Monday's market, sees oil prices now at level 73.36 based on XTIUSD chart FXOpen in Tradingview for US Crude oil. In general, price movements are still in the range of 75 and 69. Apart from tensions in the Red Sea, and other news related to oil from oil prices, China takes advantage of falling oil prices to Build Inventories. With the drop in prices in the fourth quarter of 2023, China resumed the higher import levels and higher inventory builds.

Oil prices were corrected again down to around 72, after rising to a high of 73.65. The escalation of the war in the Red Sea does not yet have a significant impact on oil prices, at least until today. In other news, several storms occurred in northern Dacota and caused oil output to drop to 650,000 BPD

The escalation of the war in the Red Sea seems to be expanding, the US is attacking Yemen to stop the Houthi attacks in the Red Sea. Recently the Houthis attacked a US vessel after attacking a warship. However, oil prices are still moved in the range at level 72. Yesterday it fell to a low of 71.35 but has risen again now at 72.79.

Oil prices are still reluctant to rise higher despite the escalation of the war in the Red Sea, although prices rose to level 75, eventually, the price returned to the 72-level price. The latest news The Biden Administration took one more baby step towards refilling the nation's Strategic Petroleum Reserves (SPR), announcing on Friday a request for proposals for another 3 million barrels of crude oil for May delivery.

Tipically oil prices still traded on the range market in bands line roughly 75 and 69 level prices. Yesterday oil price formed a bull candle after the previous drop low 71.16. According to Oilprice analysts, traders are trying to speculate on oil amid escalating tensions in the Middle East, betting that oil could reach $110. Geopolitical tensions in the Middle East, particularly involving the Iran-aligned Houthi rebels, are central to the speculation, although analysts largely believe a major escalation is unlikely.

Oil prices are still trading in the range of 75 and 69, yesterday the price tried to rise to a high of 73.50 but was rejected near the MA 50.
According to analysts, the reason oil prices are currently influenced by excess supply, weak prices, and weak demand growth The only factor that could potentially offset the impact of these factors is the situation in the Red Sea.

Oil prices tried to rise again and formed a bullish candle below the middle band line. The price failed to form a new low and was held back by support near the lower band line. The escalation of war in the Red Sea is still a concern amidst global geopolitical tensions. On the other hand, Russia is committed to OPEC+ cutting oil exports by 300,000 barrels. However, on the other hand, the EIA predicts that the U.S. crude oil production reading 13.4 million barrels per day.

Oil prices fell again to a low of 70.17 and failed to penetrate the 75 price level yesterday. The escalation of the war between Israel and Hamas appears to be widespread, recently the war involved Hezbollah in Lebanon, and Houthi in the Red Sea. Heated geopolitical conditions can disrupt the security stability of international trade and possibly influence financial markets.

After opening an order, no one knows where the price will go, in CFD trading, the role of risk management is very crucial. Currently, oil prices are trading again at roughly 72. In general, the support zone is near 69 and the resistance zone is near 75.
Several analysts forecast weak global economic growth in 2024, predicting that oil demand and prices will remain subdued, with WTI crude expected to average $78.84 per barrel.

Oil prices rose again after falling to a low of 69.40. Some analysts stated the rise in oil prices to the escalation of tensions in the Middle East or the Red Sea, the latest news that Britain will attack the Houthis and the other hand, and Iranian ships arriving in the Red Sea to support the Houthis if the war spreads could be the biggest war in history.

Oil prices showed a decline and reached a low of 70.16 yesterday. The latest news is that OPEC+ will hold a Joint Ministerial Monitoring Committee meeting sometime in early February. OPEC+ members collectively decided to voluntarily cut 2.2 million bpd from the group's production this quarter.

Happy New Year all, wish 2024 all the best, and always live in peace and full prosperity.

In the beginning year, oil prices were still flat and some gaps occur today, when the price jumped from the previous opening price. The gap is seen on the H1 timeframe. There is interesting news related to solar cells looking for renewable energy to replace fossil fuels. Citing to Oilprice Next-Gen Solar Cells: Smaller, Cheaper, More Efficient. The cells, with a size twice the thickness of a strand of hair, have significant advantages over conventional solar technologies, reducing electrode-induced shadowing by 95% and potentially lowering energy production costs by up to three times.

The tensions in Laur Merah still seem difficult to bring oil prices up again. In the last two days, oil prices continued to fall and reached a low of 71.28. The Prosperity Guardian formed by the US seems to be facing obstacles due to the reluctance of several NATO members such as Italy, Spain, and France. The Houthi group targeting ships affiliated with Israel has forced some cargo ships to detour through Africa to reach Israel, which takes longer and increases costs.

Oil prices continued their decline and reached a low of 71.77, it seems that oil prices are still having difficulty breaking through the 80 level amid tensions in the Red Sea and the war in Gaza. The bearish trend in oil still leaves questions about the cause. This may be because the war has had an impact on security concerns and reduced demand, especially in the Middle East and China which has not yet shown an increase in demand for oil, on the other hand US oil production continues to increase.

Oil prices yesterday dropped roughly 2% as a result of tensions on the Red Sea. which caused ships affiliated with Israel to have to detour further to avoid Houthi attacks. On the other hand, America formed Prosperity Guardian to protect against Houthi attacks. While the Houthis said they only attacked ships affiliated with Israel and did not target other ships.

Russia and Iran both signed an agreement to use local currency for trade and not use USD anymore. It seems USD domination is fading due to some countries abandoning the currency.

Yesterday oil prices rose to a high of 76.18, this increase may have been triggered by several factors, including tensions in the Red Sea where ships affiliated with Israel were attacked by the Houthis, so many ships turned around, which took longer time to arrive and increased costs.

The price of oil is now at 73.43, still moving below level 75, the latest news related to oil, Russia is planning to scale back oil exports from its seaports next month by between 100,000 and 200,000 barrels per day compared to December levels. And rising geopolitical risks in the Red Sea are now making headlines after the Israel - Hamas war.

Today oil traded at 73.86, in the daily we can see oil forming indecision candles with long shadows on top and bottom candles. After hitting a high of 75.39 oil back rebound. to low 72.47. Conflict of interest between OPEC+ and the US may be including reasons in the oil market. OPEC mainly relying on oil export want the price to rise. OPEC+ agreed to cut oil production by 1 million barrels per day starting in January 2024. On the other hand, the US wants the price is low because they need more oil for infrastructure. the US is increasing its production and this is a challenge for OPEC+ which relies on high oil prices.

There seems to be a bullish bet on the current oil price rising above the 70 level, now the oil price is at 72.40. According to analysts, the rise in oil prices was more influenced by bullish bets when oil prices fell.

Oil price rose yesterday and formed a higher high at 72..71. Analyst Oilprice states Optimism around both economic growth and oil demand was boosted on Wednesday when the Fed signaled it would cut interest rates next year. The Fed’s comments also triggered a rally in stocks, bonds, and gold, and sent the U.S. dollar to a four-month low.

The price of US Crude oil is currently trading at 70.18, although it is rising, it is still forming a lower high. News related to oil citing to Oilprice, OPEC production falls but on the contrary, the U.S. oil output continued to reach new highs. Here there appear to be two interests, on the one hand, OPEC wants to balance the market, and on the other hand, the US wants lower oil prices

Oil prices fell again and formed a lower low at 68.44, there are various opinions regarding the decline in oil prices. Analyst Oilprice state oil prices are still under pressure from inflation data which encourages the Fed to maintain high interest rates. some state that OPEC+ producers need a long-term plan to manage supply to the market. U.S. record high oil production is a huge problem for OPEC+

No one knows where the oil price will move in the future, yesterday the oil price formed a small body indecision candle with shadows on the top and bottom of the candle. According to analysts, OPEC* output cuts may have no effect unless there are further cuts. A Reuters survey shows that OPEC+ 2.2 million barrel-per-day production cuts in the first quarter of the New Year will be counterbalanced by a potential supply surplus, signaling a bearish outlook for oil prices.

Oil price at the moment traded at 71.33. Oil prices tried to wake up after dropping a low of 68.90 the previous week. There is good news on the oil market. U.S. Plans 3 Million Barrel Purchase of Crude Oil for SPR and India Could Boost Russian Crude Imports As Prices Fall,