Mohammed Imran
Mohammed Imran
Recent economic data from across the region like Asia, Eurozone and the US are indicating an economic slow down ahead.
Crude oil prices at $83.50, hover near two months high driven by the renewed geo-political risk in the middle east and red sea region along with the threat of Hurricane Beryl
WTI/MCX crude oil outlook today: The overall weekly inventory report is disappointing as it is indicating slowdown in the US consumer/industrial demand
Crude oil strategy: Crude remains on track for a monthly gain. The immediate support for WTI remains at $ 78.78 (50-DMA) and short-term support stays at $77.13 (200-DMA)
Crude oil strategy for June 20, 2024: WTI crude oil could test resistance of $85 over the medium term
The WTI holding on to support of $78 in Asian hours, retreating from three weeks high of $79.12. hit on Wednesday
Oil prices are moving higher after posting three straight weekly declines following Opec+ decision on June 2
Commodity outlook: The economic slowdown has already been priced in by the markets and we expect limited downside in oil prices
Given the above-mentioned developments, we believe that the oil market is heading lower in the short to medium term due to softening of global economic conditions
Crude oil price outlook: WTI short term resistance is at $82 for the day, while short term trading range should be in range of $77-$82
Crude oil outlook and strategy: Analyst at Sharekhan believes buying WTI crude on correction would be a good strategy for the day
Brent crude oil outlook: Brokerage firm Sharekhan expects prices to trade in a broader range of $75-$80/b unless there is any major changes in terms of macroeconomics or geo-politics
Crude oil outlook: Crude oil prices are expected to trade in a fairly tight range ahead of the key OPEC+ meet on June 1
Any significant upside in Crude Oil can only be sustained by strong demand side fundamentals from the US and China, says Mohammed Imran, research analyst at Sharekhan BNP Paribas.
Crude oil prices have corrected significantly after posting 16 per cent gains for Q1-2024. However, since April the oil prices have lost roughly 7 per cent of their value, amid the easing of tensions
Mohammed Imran, research analyst at Sharekhan BNP Paribas, expects WTI Crude oil prices to broadly trade with upward bias in the range of $77-$80 per barrel.
OPEC is expected to keep the supply tight to maintain the price stability at a time when demand is seen weakening