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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.

Oil price still continue decline in yesterday market despite the price outage of lower band line. The US Energy Information Administration (EIA) reported that supplies of finished motor gasoline, reflecting demand, fell to about 8 million barrels per day, the lowest since the beginning of this year. The news contributed to the formation of a new bearish impulse

No anyone knows the future will be like. Oil price heavily dropped in yesterday market and record low 83.17 from high 88.48. Nearest no shadow in bears candle mean strong down.
According analyst Oilprice, Oil price tumble as EIA reported significant build gasoline inventory. Gasoline inventories added a substantial 6.5 million barrels for the week to September 29, which compared with a build of 1 million barrels for the previous week. Gasoline inventories are now 1% above the five-year average for this time of year. Gasoline prices fell alongside oil prices on Wednesday morning, trading at $2.238.

I know this becomes controversy because I always post oil chart.This is only share an opinion and not all people will be like.
Oil price consolidated now near middle band line. Analyst says oil price driven by geopilitical, in one side Saudi and Russia as OPEC+ want oil price higher because they rely income from oil market, in other side China and US gets negative impact by rises oil prices will make down oil price with their weapon.

Oil price break through MA and middle band lines, draws low 87.60 at the moment. According news, OPEC's oil production grows despite Saudi extent cut production. The higher output come from Iran and Nigeria. OPEC’s crude oil production rose by 120,000 barrels per day (bpd) in September from August .

Russia announced in September a ban on most diesel exports from its western ports in an effort to stabilize fuel prices at home, but later lifted the ban on low-quality diesel. Russia is eagerly pursuing measures that would stave off a repeat of the 2018 fuel crisis. In November 2018, Russian President Vladimir Putin saw his approval ratings drop to a low not seen in six years. Oil price now 90.05 at FXOpen Tradingview chart consolidating near middle band

Hot news, IEA faces backlash over bold 2030 oil demand forecast.The IEA advocates for a 25% reudction in global fossil demand by 2030.Backlash from JPMorgan's Christyan Malet anticipates a very volatile supercycle with potential global oil deficit pushing prices significantly higher. And OPEC criticizes the IEA's decarbonization narrative, warning against the danger dismissing fossil fuels and potential for global energy chaos. While oil price yesterday drop low 90.52 after record high 93.93. According analyst, oil price dropped as taking profit acts

Oil price record new high in yesterday after consolidate near middle band. China set to raise oil export quota amid increasing jet fuel demand. China’s exports of refined petroleum products are set to rise in October compared to September, with gasoline and jet fuel seeing the biggest increases month-over-month, according to industry estimates compiled by Reuters.

Oil price hit low 87.71 in yesterday market, after hit middle band the price bounce and close at 89,90. analyst says Oil prices are under pressure as the U.S. dollar continues to strengthen and fears of a higher-for-longer interest rate weight on demand expectations.

Oil prices still traded in consolidation market near dynamic support MA line. Ninepoint Energy Fund’s Eric Nuttall predicts major upside for oil equities.Nuttall, who manages Canada’s largest energy mutual fund, says “the macro backdrop for oil has never been as positive” in his career, and while oil stocks are not soaring along with crude prices that have recently been flirting with $95 per barrel, this is the time to invest.

Monday market open, no gaps seen in the chart, all looks normally. Oil prices still steady move in the range 87 to 90s. JPMorgan’s head of EMEA energy equity research, Christyan Malek, warned markets that the recent Brent price surge could continue upwards to $150 per barrel by 2026.

Oil price hit dynamic support MA line and draws low 88.11 and closed at 89.19. Morgan Stanley said in a note on Thursday, and all signals for crude oil are “flashing tightness,” with prices being supported at current level Meanwhile Money managers are placing the most bullish wagers in more than a year, with many betting that oil prices will soon pass $100 a barrel following a powerful rally triggered by production and export cuts by Saudi Arabia and Russia.

Oil price dropped low 88.76 in yesterday market. Analyst still believe oil price drop because trader taking profit action. Meanwhile the news reporting the U.S. Federal Reserve on Wednesday decided to hold interest rates steady for September, indicating next year may see fewer rate cuts that analysts had earlier anticipated.

Oil price hit new high 92.24 before draws low 90.17. Oil price rising after EIA forecast continued decline US Shale oil uotput. The EIA expects shale oil production in the United States to decline for a third consecutive month in September, dropping to 9.39 million bpd.

Oil price continue rally in yesterday market. Oil hit new high 91.28 based XTIUSD chart FXOpen in Tradingview. According analyst the reason oil strong rally because Saudi Arabia and Russia to extent oil cut proudction. It resulting the tight market amid increasing demand. Goldman Sachs even predict oil price expected hit $107 in 2024.

Oil prices hit higher high in last week market. The oil reached 90.53 and moved near upper band.There are long wick at botom candle in last week market. Belarus has recently shipped diesel and gasoline to Russia, as requested by Moscow, and is ready to further increase supplies if needed, Belarusian President Alexander Lukashenko, a close ally of Putin,

Oil price record new high in yesterday market at 90.18, the price jumped from low 88.03. Oil price strong rally with reason OPEC+ production cuts indicates the tighter market is coming. While ECB in yesterday market shocking the market with hike interest rate 25 basis point and bring interest rate be 4%. Rate hike make prices higher volatile yesterday.

Oil prices yesterday hit new high 88.98 and pullback to near opening price and draws doji candle. International Energy Agency (EIA) expected oil price volatility to surge as result of the recent OPEC+ supply cuts.According to the Agency, the loss of OPEC+ supply from September onwards will drive a significant supply shortfall.

Eventually oil prices break high and draws new higher high 88.71 in yesterday market.
The price increases come as OPEC+ heavyweights Saudi Arabia and Russia extended their voluntary production cuts in an effort to balance the markets—and to make good on Mohammed bin Salman’s threat to punish short sellers and oil speculators who dare to bet against crude oil

Oil prices still traded in trading range in last three days, yesterday oil draws high 87.60 and low 86.20 and close near opening price.
At the G20 summit in India this weekend, the U.S., India, Saudi Arabia and the UEA announced a new trade route that intends to connect India to the Middle East and Europe, with ports and rail, in a direct challenge to China’s Belt and Road ambitions.

Tipically oil prices still traded in the range 87.53 and 84.54, although the Goldman Sachs predict the oil price could reach $107 in 2024.
Hot news Guyana is expected to pump 1.2 million barrels of crude oil per day by 2027, surpassing many OPEC members, driven by Exxon's development of the Stabroek Block