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Where next for daily oil prices ?

Crude oil futures continued to trade in a narrow range yesterday, with the October WTI contract closing the day marginally lower at $95.36 per barrel, having reached an intraday high of $96.03 during the oil trading session. Following the recent breakout from the sideways consolidation...

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Daily oil prices – WTI August contract

Daily oil prices today have traded in a tight trading range throughout the session with the August WTI futures contract only marginally higher at the time of writing at $84.44 per barrel, having opened the session at $84.14. Since breaking below the psychological $100 per...

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Daily Oil Prices 18 Jan 2011

Buoyant equity markets and a weaker dollar are helping to keep crude oil prices well bid as they move inexorably towards the $100 per barrel target. The daily oil price chart has now seen the WTI contract consolidating in the $90 to $92 price region...

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Daily Oil Prices 5 Jan 2011

Daily oil prices have today rebound back above the $90 per barrel price handle following better than expected crude oil inventories which confirmed a draw of -4.2m barrels against a forecast of -1.4m barrels.  This data also followed much better than expected employment data in...

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Daily Oil Prices – 17 Dec 2010

Following two weeks of sideways consolidation with today’s candle on the oil chart adding to the recent pattern, the only question that remains is whether the explosive break out for oil prices to the upside occurs before the end of the year or in 2011...

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Daily Oil Prices 14 Dec 2010

Despite last week’s drift sideways daily oil prices continue to remain firmly bullish with the 9 day moving average in particular providing solid support to any short term pullback.  Indeed this was a feature of Friday’s price action with the WTI crude oil contract closing...

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Daily Oil Prices 1 Dec 2010

A volatile week for crude oil trading so far with Monday’s strong breakout promptly reversing yesterday as crude oil prices pulled back as a wide spread down candle which found solid support from the 14 day moving average.  Indeed this volatile price action has continued...

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Daily Oil Prices 29 Nov 2010

Crude oil prices bounced back in style last week with Wednesday’s wide spread up candle injecting some much needed optimism which was duly consolidated on Friday with a hold above all 4 moving averages once again.  Indeed a feature of Friday’s candle was the deep...

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Oil Prices 22 Nov 2010

Crude oil prices closed lower last week ending the week and the oil trading session as a relatively narrow spread down candle which found solid support from the 9 week moving average, suggesting a possible platform of support in the technical area.  Despite the negative...

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Oil Prices – Oil Price Chart Today

Oil prices have recovered their poise somewhat today following the sharp sell off over the last six days which has seen crude oil fall from a high of $88.62 last week to a low of $80.64 per barrel in yesterday’s oil trading session.  Following the...

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