Oil price in yesterday's market draws indecision candle Doji, seems Oil markets are now fully focused on the upcoming OPEC+ meeting, with reports that the group may deepen cuts being counteracted by an apparent lack of unity amongst OPEC members on the issue. In H1, the Bollinger band squeeze indicates a sideways market trend waiting for breakout

Oil prices tried to rise again yesterday by forming a high of 78.44. It seems that rumors about OPEC being said to be extending production cuts until 2024 are giving impetus to rising oil prices. OPEC+ members will meet on Sunday to discuss production policy, and it is said the group will discuss further output cuts.

Oil price now traded at 75.91, it seems oil price tries to rise after dropping low 72.36. Rumors about oil, OPEC said to pay attention to an additional 1 million bpd output cut. Goldman Sachs expects OPEC not to let oil prices slide too much below $80 per barrel next year and use its pricing power to keep them in the $80-$100 range, the bank said, ahead of the OPEC+ meeting on November 26.

Oil prices continued their decline yesterday by forming a bearish candle with a short tail at the bottom of the candle. The price has even fallen to a low level of 72.36 on the XTIUSD chart FXOpen in Tradingview. Analysts cited the fall in oil prices as data reports showing a month-on-month decline in the processing of oil from Chinese refiners in October, which has also revived concerns about demand, despite an official letter from OPEC earlier this week stating that production of crude oil will increase.

Due to falling oil prices, Bloomberg reported that Russia will cut its crude oil export duties by 5.7% for December
New import duties that began in December were set at the equivalent of $3.37 per barrel or $24.7 per ton, according to Bloomberg.

Meanwhile, Saudi Arabia may extend its cut oil production until 2024 according to Reuters due to Energy Aspects co-founder Amrita Sen as said citing oil prices that are still too high and fundamentals that are still too strong to support a reversal. Oil price yesterday back to decline and is now traded at 76.55

Oil price now traded at 78.01 at the time of writing, oil price rise because both OPEC and the IEA released reports pointing to strengthening global oil demand growth. Currently, oil price is moving close to the lower band which is dynamic support for the bullish market, the price is also close to MA 50 which forms an ascending line.

Oil prices climbed after the market digested an OPEC report showing that demand in the US and China had not fallen to a worrying point. Now oil price traded at 78.42 in the consolidation after reaching a high of 78.53. The markets were also responding to unclear indications from the U.S. Federal Reserve about a potential end to rate hikes, with various investment banks speculating on rate reductions in the next 12 months.

Monday market, the chart looks normal, no gap occurs in the oil market, oil price is now traded at 76.81 and draws retracement. There is news used car market is In turmoil as prices collapse and demand wanes. This news may suggest that there is a decrease in demand for fuel, which may influence oil prices.

Saudi Arabia's Energy Minister accused oil speculators of being behind the recent drop in oil prices, saying they were misreading the oil market. Russia and China are increasing their presence in the Iraqi oil market, taking advantage of reduced US influence in the Middle East and leveraging strategic alliances. Oil prices still traded below 77, although yesterday's price formed high of 77.07 but at the time of writing price at 75.56

Oil prices still continued to decline in yesterday's market, the price drew a new low of 74.90 and now oil price traded at 75.55. According to analyst FXOpen in Tradingview. Oil prices dropped because:
→ first, easing concerns about the escalation of the military conflict in the Middle East and interruptions in the supply of oil produced in the region;
→ secondly, the data from Beijing. While China's crude oil imports rose in volume and value in October, the country's total exports fell 6.4% year on year, more than expected, CNBC reports. This points to a slowdown in demand in a world where central banks in many countries are keeping interest rates high to combat inflation.
Despite the war in the Middle East could cause oil supply disruption, Saudi Arabia and Russia cut oil production, if oil demand is low, the price could decline.

Oil prices continued to decline and recorded a new low of 76.88. Analyst says Oil prices have nearly erased all year-to-date gains as shrinking refining margins signal weaker demand for oil as mixed data from China. However, Oil prices could be entering an oversold zone based on RSI. And rumor Iran has urged OPEC members to halt oil exports to countries supporting Israel. It could have the potential to significantly disrupt global oil supply and prices.

Russian Novatek has dismissed sanctions against its Arctic LNG 2 project imposed by Washington last week as a desperate attempt to keep international gas prices high. Oil prices still steadily move near 80. Even in yesterday's market prices draw doji candles with open prices at 80.79 and closed at 80.79.

Despite many analysts predicting the oil price could move higher by $140$ because escalation war in the Middle East, however, the conflict still can't bring the oil price move higher, even though the price still traded near 80 level prices. However, despite oil prices slumped in the previous week, Russia’s oil and gas revenues jumped in October, according to data from the Russian finance ministry due to a cyclical surge in the profit-based tax, and more than doubled from September to $17.6 billion (1.635 trillion Russian rubles)

Despite yesterday's oil price reaching 83.08, the short position in West Texas Intermediate grew particularly notably last week leading the price decline to a low 80.09. Oil consolidates in this zone. However, despite the oil decline, analysts still believe that an escalation war in the Middle East spread region could make the price rise up $150.

Oil prices still continue to decline in yesterday's market, even oil broke the lower band line and recorded a new low of 80.49. Weakening global economic growth could keep oil prices below $90 per barrel this year. However conflict in the Middle East still becomes a big concern on the next, if war threatens supplies could make prices above $100, Charles Kennedy writes.

Oil still depreciated amid the war between Israel vs Hamas, yesterday oil dropped to a low of 81.52, it is maybe oil demand decreased during the war because of risk. However, expected oil demand rises as a report on October 18 saw figures released showing China’s economy grew by 4.9 percent year on year in Q3. China is the largest oil importer which probably influences oil demand and prices.

The market is very complex, and despite the war could have an impact on the market, sometimes not instant, tension in the Middle East maybe still continue as geopolitics global conflict, Iran wants to drop sanctions on oil to Israel, and Now the US wants to tighten sanction to Iran. As the oil market grapples with the current and potential effects of the Gaza war, a new significant concern has emerged. U.S. sources indicate that the Biden Administration might soon impose stricter sanctions on Iran

Oil price in yesterday's market back record low of 82.35 although still draws a higher low. Analyst says oil dropped because on the day Israel agreed to delay an anticipated ground invasion of Gaza until at least later this week. Meanwhile, In other news, Warren Buffet has expanded his holdings in Occidental Petroleum (OXY) with the purchase of another 3.9 million shares this week, according to a Securities and Exchange Commission regulatory filing.,

Oil prices tried to wake up yesterday, after dropping a low of 81.87 then reversing and recording a high of 85.32. Tension in Middle East still become concern oil markets, Recent news Libya’s Eastern Govt Calls For Oil Export Embargo For Israel Supporters. Libya’s eastern-based House of Representatives (HoR) has called for the immediate exit of ambassadors supporting Israel amid airstrikes on the Gaza Strip and demanded that Libyan oil exports to those same countries be halted.

Oil prices still continued to drop in yesterday's market, with the price record low of 82.75 and crossing the middle band line. Bands line narrowed indicating the market decreased volatility with dynamic support near lower band at roughly 80. Oil prices are under an increasing amount of downward pressure, but geopolitical risk and continued production cuts from OPEC+ have helped to halt a significant drop.

Oil prices continued to drop in yesterday's market and drew a low of 85.13, now the price moved near the middle band line, which the band's line draws to narrow indicating lower volatility. Economic war between the US vs China may still continue, new release, Chinese digital yuan has been used in its first cross-border oil deal for 1 million barrels on the Shanghai Petroleum and Natural Gas Exchange (SHPGX) from PetroChina International Corp Ltd. The transaction took place on October 19 and represents the first time, amid a slow-moving de-dollarization push, that digital yuan has been used to complete a translation for oil, though no further details of the transaction have been made available.

There are small gaps in Monday's market, Oil prices now traded near the 87 level prices dropped from a high of 89.61 in last week. Analyst says oil dropped due to taking profit action in Friday market before the market closed.

Allianz Trade predicts Crude oil prices could go as high as $140 per barrel and send the world into a recession. Tensions in the Middle East and escalations between Israel and Hamas into a broader regional conflict could trigger a price surge for crude oil that could send the commodity to trade at $140 per barrel, Ana Boata, head of economic research at Allianz Trade said.

Oil prices eventually rose high 89.34 in yesterday's market amid the escalation conflict in the Middle East. Recent news Israel is being forced to divert crude oil imports from its main Mediterranean terminal due to the escalating Gaza conflict, with Bloomberg reporting that an oil tanker is currently heading toward the country’s Red Sea port to avoid becoming a target in the conflict.

Oil prices are still in bulls, yesterday drawing a high at 88.47 despite getting pressure and closing at 87.09. Geopolitical tension still becomes hot news amid oil prices. Now, recent news reported Iran Calls For Oil Embargo On Israel As Middle East Tensions Flare Up.
Iran is calling for an oil embargo on Israel over the latest deadly air strikes on the Gaza Strip amid growing tensions in the Middle East just as U.S. President Joe Biden arrived in Israel.

Morning star in H1 oil price, Reuters reported that shipping rates for transporting Russian crude have surged since last week after the U.S. took a tougher stance on sanctions for vessels carrying Russia’s oil above the G7 price cap, traders have told.

Despite some analysts predicting that oil prices could reach $100 amid escalation conflict between Hamas vs Israel, however, yesterday the oil price still traded near 85 level price. good news from Big oil company Shell. shares of Shell (NYSE: SHEL) were trading up 1.10% at $68.12 per share amid the conflict between Hamas vs Israel. The shares soaring as the oil market response escalation conflict and its potential to widen to multiple fronts.

Oil prices tried to rise in last week, the price jumped from a low of 82.27 to a high of 86.61. There are Analysts expect oil prices could reach $100, they have reason including Saudi energy minister Prince Abdulaziz bin Salman visited Moscow to discuss plans for oil production in the context of the Israeli-Palestinian conflict. The Russian president announced that Saudi Arabia and Russia's production cuts are "likely" to continue.

Oil prices yesterday tried to reach a high of 83.93 but were rejected and closed at 82.37. there are three factors driving oil market at the moment, first Saudi Arabia and Russia extended oil cut production, second, war in Gaza, despite Israel is not oil producer country, war could damage so much infrastructure, and the third is a Russian price cap by G7 countries

War Palestine vs Israel still becomes hot news today, even Pioneer Natural Resources CEO Scott Sheffield says oil prices could soar significantly if Iran becomes directly involved in the conflict. But yesterday, the oil price dropped low 81.89, which is quite different from analyst expectations, or the impact of war is for the long-term? Another important news, Russian President Vladimir Putin told an energy conference in Moscow on Wednesday that Russia and Saudi Arabia would “most likely” extend output cuts into 2024 and warned that clashes in the Middle East could impact oil exports with higher shipping and insurance costs.

Oil prices have been buoyed by the Hamas attack on Israel, with a heightened geopolitical risk in markets and growing concerns that the U.S. will double efforts to stem Iranian oil flows. Despite the price rise, uncertainty remains in oil markets as to exactly how supply and demand will be influenced. Oil prices yesterday traded near 84 awaiting breakout the Bollinger band squeeze.

Hot news, HAMAS attacked Israel, and Hamas launched coordinated multi-pronged attacks by land, sea, and air against Israel last weekend. Oil price hangs near 85 in yesterday's market. Analysts say the potential for the Hamas attacks on Israel to suck in other Arab states into the conflict, and for it to then become another proxy war could have major ramifications for a large number of countries. Where oil price will go?

Large gap occurs in Oil prices today, even gaps seen in the daily timeframe, often after gap then the prices recover the gap, however not always like that, when looked market structure, oil prices already enter oversold level and tries away from the line. Recent news oil market, Germany is considering extending the price caps on gas and electricity prices until the end of the coming winter in March 2024.