Energy news

Energy commodities are essential fuels that power modern society. Explore key energy sources like crude oil, natural gas, coal, and emerging renewable energies. Learn about their global impact on the economy and environment.

Oil continues rebound, Gold awaits CPI, and crypto struggles

Oil exits oversold territory China increases gold reserves for a sixth consecutive month Pepe Coin craters while Bitcoin struggles Oil Oil prices continue to edge higher as the crude demand outlook is pummeled with mixed signals. The latest jobs report wasn’t as good as the headline implied and today’s Fed survey showed loan demand is falling off a cliff. The oil market was extremely oversold and it will probably continue to stabilize as long as Wall Street is still confident the Fed will cut

08-05-2023 16:09 GMT by Edward Moya

WTI Oil Technical: Evolving into minor uptrend

Last week’s intra-week loss of -17% has been recovered partially. Positive technical analysis elements sighted; “Morning Star” daily Japanese candlestick. Short-term overbought condition in hourly RSI highlights the risk of a minor pull-back. West Texas Oil Technical Analysis – Minor uptrend intact but risk of a pull-back Fig 1: West Texas Oil trend as of 8 May 2023 (Source: TradingView, click to enlarge chart) The West Texas Oil (a proxy for the WTI crude oil futures) managed to stage a

08-05-2023 06:38 GMT by Kelvin Wong