WTI hovers around $78.00 after EIA's forecast of optimistic global demand
12.06.2024, 01:39

WTI hovers around $78.00 after EIA's forecast of optimistic global demand

  • WTI may appreciate as the US Energy Information Administration anticipates optimistic global demand.
  • EIA increased world Oil demand growth forecast to 1.10 million barrels per day in 2024.
  • Oil prices struggled due to the Fed's hawkish stance on monetary policy.

West Texas Intermediate (WTI) Oil price hovers around $77.90 per barrel during Asian trading hours on Wednesday. Crude Oil prices may rise due to optimistic global demand forecasts from the US Energy Information Administration (EIA).

According to Reuters, the EIA increased its 2024 world Oil demand growth forecast to 1.10 million barrels per day (bpd) from the previous estimate of 900,000 bpd. Additionally, the Organization of the Petroleum Exporting Countries (OPEC) maintained its 2024 forecast for robust growth in global Oil demand, citing expectations for increased travel and tourism in the second half of the year.

Analysts at the energy consulting firm Gelber and Associates noted, "Futures are higher as expectations of summer demand are supportive of prices despite the broader macro landscape remaining less optimistic than weeks previous," per Reuters.

A strong US jobs report from the previous week has reinforced the Federal Reserve's hawkish stance on monetary policy. The Fed is expected to maintain higher borrowing costs for an extended period, which could slow economic growth and reduce demand for Oil. Investors await the Federal Reserve's (Fed) policy decision, along with the US inflation figures for May on Wednesday.

WTI US OIL

Overview
Today last price 77.9
Today Daily Change 0.05
Today Daily Change % 0.06
Today daily open 77.85
 
Trends
Daily SMA20 77.27
Daily SMA50 80.18
Daily SMA100 79.2
Daily SMA200 79.31
 
Levels
Previous Daily High 78.04
Previous Daily Low 76.92
Previous Weekly High 77.36
Previous Weekly Low 72.46
Previous Monthly High 81.25
Previous Monthly Low 76.04
Daily Fibonacci 38.2% 77.34
Daily Fibonacci 61.8% 77.61
Daily Pivot Point S1 77.17
Daily Pivot Point S2 76.48
Daily Pivot Point S3 76.05
Daily Pivot Point R1 78.29
Daily Pivot Point R2 78.72
Daily Pivot Point R3 79.41

 

 

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik