Crude oil market reacts to Russian withdrawal See if oil is worth trading here:
Vladimir Putin has suggested that he was a little bit more optimistic about a diplomatic end to the crisis on the border, so
markets sold off just a bit. That being said, it should be noted that the selloff was rather quick, but it was more or less the “panic bid” that we were trying to unwind.The $90 level looks as if it is trying to hold the market up, and that does make sense considering that it is a large, round, psychologically significant figure. Even if it does not hold up the market, I think that it is only a matter of time before you can be a buyer.
The demand situation still remains intact, so I do think the buyers will continue to come back into this market every time they get the opportunity. After all, we are in the midst of the “reopening trade”, showing markets around the world demanding much more energy as we are trying to get back to normal. Whether or not that will continue is completely up for debate, but in the short term it certainly looks likely.
If we do break down below the $90 level, then the $87.50 level would be the next area that will be looking to pick up. Underneath, you have the $85 level where I would anticipate a ton of support not only based upon a round midcentury figure, but the fact that it was a previous high and we have the 50 day EMA sitting in that same general vicinity. With this, I still believe this is more of a “buy on the dips” situation.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Crude Oil Prices Eyeing $100 Mark on Strong Demand, Geopolitical TensionsCrude oil prices may be challenging the $100 mark after eight consecutive weekly gains, propelled by heightened Russia-Ukraine tensions amid rising demand and supply constraints. Will they succeed? Get your market update from margaretyjy here:
Leer más »
WTI pares biggest daily losses in 10-weeks, focus on China inflation, Russia, Fed MinutesWTI crude oil prices recover to $90.50 amid Wednesday’s Asian session, having witnessed the heaviest daily fall since early December 2021 the previous
Leer más »
Russia-Ukraine live updates: Russian parliament asks Putin to recognize DonbasLATEST: Top cybersecurity officials from the U.S. Department of Homeland Security and the FBI have warned of potential attacks on American cyber infrastructure in concert with a physical invasion of Ukraine, according to a source familiar with the matter.
Leer más »
Russia-Ukraine live updates: Biden says Russian troops remain in 'threatening position'Pres. Biden says Russian invasion of Ukraine could impact energy prices. “I will not pretend this will be painless…We’re preparing to deploy all the tools and authority at our disposal to provide relief at the gas pump.”
Leer más »
Oil prices recoup losses as Russia-Ukraine tensions easeOil prices recouped losses on Wednesday after slipping more than 3% in the previous session, as investors gauged the impact of easing Russia-Ukraine tension against a taut balance of tight global supplies and recovering fuel demand.
Leer más »