Potential correction at fibb 61.8%
After correction price can still follow the trend
Stoch: After overbought
for more: www.invesery.com
vesting.com -- Crude oil prices weakened Thursday amid concerns about fuel demand as the pandemic continues after U.S. inventories posted an unexpected rise last week.
By 9:45 AM...
This week, oil prices decrease amid a slowdown in global economic activity. According to the revised OPEC forecasts, this year, the demand for energy will decrease by 6.8 million barrels per day. The April IEA oil market report was even more negative. The International Energy Agency predicts a decline in demand of 9.3 million barrels per day in 2020. The forecasts...
Earlier today, Barclays cut its crude oil price forecasts for this year on worsening outlook driven by the raging coronavirus pandemic even as the price war between Saudi Arabia and Russia threatens oversupply in markets. According to the bank, UK Brent oil price outlook has been revised lower to $31 per barrel while WTI oil could average around $28 per barrel...