OPEC member Saudi Arabia hiked oil prices in Asian market a day after announce to extent oil cut production. Arabia has increased the premium of its flagship Arab Light crude to $3.20 a barrel for August.

Oil price yesterday forming high 72.32 and pullback again to 71.77. Oil prices still in the Bolllinger band line trading range.

Russia’s oil and gas revenues dropped by 26.4% in June compared to a year earlier and 7.4% compared to May 2023.

Oil price rise higher yesterday on 72.18.Bollinger band draws flat indicating sideways market where the prices trading range roughly 75 and 67 level prices.

Oil price now traded near 71 above MA line on hourly timeframe. Oil price yesterday rise from low 69.91 to high71.37.
Analyst says oil price modestly move higher because Saudi Arabia to extent its voluntary oil production cuts through August.

Some Indian refiners starting to paying Russian oil using Chinese Yuan. Russian seeks alternatives to the U.S. dollar amid the sanctions while India looks to buy crude at discounts. India is big importer Russian oil.

Oil price yesterday hit high 71.79 and low 69.74, oil price back to move near MA line.

Monday market open, oil prices move near middle band, MA line flat indicating sideways prices still in zone 75 and 67
Oil price still below 75, analyst said OPEC locked into supply cuts because oil prices still below 75.

Oil price back to 69.38 after previous drop low 67.13 near lower band line.
According analyst oil price rising after EIA report inventory draw of 9.6 million barrels for the week to June 23.

Oil price under pressure on yesterday dropped to low 67.56. Oil price now move near lower band line at 67.85

Oil price dropped because market concern on sluggish U.S. demand despite geopolitical uncertainty in Russia and promises of more robust economic stimulus measures from China.

Oil prices steady move near MA line on yesterday market draws doji.
Russian president Vladimir Putin signed decree to extends banning oil companies that set price cap by Western until end 2023.

Last week oil price shaped pin bar candle, the price dropped low 67.37 and rebouncing 69.61 with close price 69.43. Oil price back near middle band line now. According Oilprice Middle East oil price soaring amids elevated demand from Asian refiners in nations including Japan and China could increasing oil prices

Oil price slumped after Jerome Powell told the congress that further interest rate hike are coming. In other side Bank of England surprising market with hiked interest rate 50 basis point to combat inflation.

Oil price now traded below middle band line at 69.47. MA line flat indicating the market in sideways.

Oil price rising and reach high 72.68 from low 70.76 on yesterday market.
The Fed meeting becomes a reason oil price back to near previous high, market expects Powell to give a detailed rationale of last week’s Fed decision to hold interest rates unchanged after 10 consecutive Fed meetings that ended with rate hikes.

Oil price dropped again and fail to reach 74 level prices. Analyst Oilprice writing oil price drop because China's demand fears in uncertainty.
Despite Russia's crude oil export drop, however still higher than they was set to cut production in February. Oil price still traded on the range 70 and 72

Oil price steady near 71 level price on yesterday market, Saudi Arabia oil export dropped to a five month low in April. Oil export slumped to 7.32 bpd in April the lowest level in the five months according Oilprice.

Warren Buffet increasing invesment in Japan, when he traveled to Tokyo and increased his investment in five of Japan's trading houses. A press release from the company Monday detailed that Buffett has further increased his stake in the trading houses.

No gap in Monday open, oil price seems normal chart, oil price now 71.57 at time of writing move above MA line.
Iran oil export hit 5 year high amid US sanction, and Russia sees realistic oil price is 80 in this year.

The European Central Bank (ECB) has hiked interest rates by 25 basis points to 3.5%, the highest level in 22 years on Thursday.
Oil price climbing from low 68.12 to high 71.13 cross MA line landed near middle band.

Oil price get rejection near MA line on 70.62, oil price drop to 68.23 after hit dynamic resisntance MA 20 lines.
JP Morgans, the analyst significantly reduced oil price forecast from 90 to low 81 in this year

Oil market bounce back to 89 level price after dropping low 66.92.
According Oilprice oil traders ignoring Saudi Arabia to watch out speculating oil market. The Fed meeting ahead also become concern oil traders.

Oil price heavily dropped and break lower band line, it's formed long body bearish candle with small shadow indicating strong downtrend.
Oil price fall amid upcoming the Fed meeting has analysts on edge about another potential interest rate hike.

Monday market open, oil price looks new support.

Relation Saudi and US has been sour,Pentagon paper showed Saudi Arabia's Crown Prince Mohammed bin Salmon threatened the United States with economic calamity over oil production decisions.

Oil price highly volatile on yesterday market, it is forming long body bearish candle with long shadow at bottom candle.
Oil price now traded 71.09, tries to retrace from low 69.12. Despite Suadi cut production, seems the market still not too much response positively, it is move in the range 74 and 67.

Saudi Arabia’s growth is expected to slow to 2.1% this year due to production cuts. Meanwhile Russian Crude Prices Via Druzhba Pipeline To Jump 16% After Dam Collapse

Oil price rise to 73.22 from low 71.09, oil price cross MA line looking new resistance, in the history the high price is 74.28 near upper band, and low 67.09

Oil price still dropped to low 70.20 yesterday, oil price now 71.65 at time of writing. There are some reason why oil drop yesterday.
Large inventory and Russian oil cut, Russian crude oil export data in recent weeks have not reflected any cuts—on the contrary, Russian crude oil exports by sea have been rising.

Oil price climbing to 74.29 as Saudi Arabia adding cut production, oil price climbing to 74 as response, however oil price drop again in the same day. Saudi Arabia said it would voluntarily cut its oil production by another 1 million barrels daily next month in a bid to prop up global oil prices.

Monday market, oil price gap price occuring, the price jumped to high 74 from close price 71.76.

OPEC+ meeting June 4 becomes reason why oil price climbing, in the discussion production cut will reach reduced 4.5% global demand.

Sometimes we find shocked moment in the market before realize but is already happen.Risk management aim to protect from uncertainty.

Oil price jumps to higher high from low 67.58 to 71.08. Analyst writing oil price jumps as EIA report inventory build of 4.5 million barrels.

Oil price continue decline on yesterday market, oil price formed low 67.09 and break lower band line.
According analyst, oil price extend to losses because economic data China dissapointed. Can OPEC meeting bring oil price to rise again?

Surprising, oil price dropped again to low below 70 on yesterday market. Oil price drop to low 69.06 from high 73.72.

According analyst from Oilprice, oil price drop because uncertainty US debt ceiling agreement, and more OPEC meeting on June 4 to discuss its own plans for production.

Oil price dropped to low 72.02 on yesterday market after gap at Monday opening. Oil price recover the gap and figure out bearish candle.
Hot news today, Saudi and Russia in tension growing ahead before OPEC+ meeting. Saudi frustrated to Russia because which apparently hasn’t kept its end of the deal and isn’t reducing oil production as pledged.

Gap clearly seen at oil price on opening market today, gap even seen in the daily timeframe. The gap occur roughly above 50 pips.

Hot topic related oil price still about Russian cut production, according bloomberg analyst, Russia isn't cut oil production as promised because shiping oil haven't dropping.

The market is dynamic, we can't control the market, but we can control our risk.
Oil price eventually dropped again to low 70.99 fail to continuing price target 75.
Although Russian Deputy Prime Minister Alexander expect the oil price will reach 80, however the market will determine later.

Oil prices still continue to rise yesterday, it is formed high 74.66 and low 73.10.
According analyst from Oilprice, oil prices rise as EIA report draw. EIA said, U.S. crude oil inventories are 3% below the five-year seasonal average.

Saudi energy minister threaten short sellers. Short sellers will be acutely aware of the upcoming OPEC+ meeting after the group sent oil prices soaring with a surprise cut in April.

Oil price rise to high above 73 after hit low 70.61 in yesterday market, global oil demand rising and Saudi energy minister threaten short sellers becomes reason oil price climbing.