empty
28.04.2023 12:26 PM
Oil set to rise further

This image is no longer relevant

This morning, the price of crude oil continued its trajectory from yesterday and developed upside momentum. Prices are rising but at a moderate pace. However, we can't say that the pace is slow. The main driver at the moment is the anticipation of financial reports from oil and gas companies.

Very soon, the final reports will be published. Some analysts point out that the majority of large companies may demonstrate positive dynamics. This stimulates traders' interest and creates a favorable background for an uptrend in oil.

Thus, on Friday morning, global oil prices are showing an increase and are unlikely to reverse anytime soon as there is enough strength to continue growth.

Brent crude oil futures for July went up by 0.77% on the London Exchange, approaching a new level of $78.82 per barrel. However, this is still quite close to the minimum values. Oil is struggling to move away from these levels and may soon succeed in this.

This image is no longer relevant

The price of WTI light crude oil futures for June delivery on the New York Exchange also showed reasonable growth. It gained 0.66% and moved to around $75.25 per barrel. These are quite decent results for this oil grade.

This image is no longer relevant

Oil prices have been rising for the past two days. Earlier, crude oil had recorded a negative trend, which significantly reduced its value. However, it managed to cope with this thanks to fairly positive economic signals. The main news data contributed to growth rather than decline, allowing oil to emerge from the crisis. Nevertheless, it is still too early to talk about significant strengthening. For now, the energy market cannot move far from the minimum values recorded in recent months.

The main hope of investors is focused on the financial performance of large oil and gas companies. If their revenue increases, the oil sector will receive some support. Then, prices will definitely be able to mark a good increase, and the crisis of recent weeks will be overcome.

It is worth noting that the reports of the largest oil companies in some countries are due to be published today. In particular, this concerns Australia, Italy, and the United States.

Another crucial factor for the oil market is the US macroeconomic data that was published yesterday. According to it, US GDP for the first quarter of this year increased, with a fairly decent growth of 1.1% on an annualized basis. However, this reading still does not reach the preliminary forecasts of experts, who claimed that the increase would be no less than 2% on an annualized basis.

On one hand, economic growth is evidence of some stabilization of the situation. On the other hand, its pace may prompt the main financial regulator to abandon the idea of raising the interest rate. It should be noted that in just a few days, another meeting of the Federal Reserve is scheduled where the main agenda will be the change in the key rate. Market participants are waiting for the signals from the US Fed to choose a further direction.

In addition, investors have also evaluated the GDP data in the eurozone and in particular countries. This can also somewhat affect the commodity. At the very least, in the case of positive changes, market sentiment will improve together with risk appetite.

Another factor pressuring oil is the assessment of consumer sentiment which is traditionally provided by the University of Michigan. It serves as a benchmark reflecting the degree of confidence of American households in the country's economy. According to preliminary forecasts, the index is expected to increase in April, reaching approximately 63.5. The previous indicator was recorded at 62 points which came in line with the forecasts. Most likely, the same will happen this time.

Nevertheless, the main fear of the markets now is the high risk of a recession that can be caused by a rate hike in the US. These concerns do not allow oil prices to break free from the narrow range and finally overcome the mark of $80 per barrel. Once this happens, prices will be able to gain momentum and rise even higher.

Maria Shablon,
Analytical expert of InstaTrade
© 2007-2025

Recommended Stories

由於UnitedHealth和Whirlpool的疲弱展望拖累指數下跌,市場在美聯儲決策前震盪不安

週二,美國股市收低,標普 500 指數和納斯達克 指數從歷史高位回落。大型企業的失望財報給市場帶來壓力,投資者選擇在即將發布的聯邦儲備銀行政策公告前保持謹慎。

Thomas Frank 08:28 2025-07-30 UTC+2

7月29日美國市場新聞摘要

美國股市指數表現參差不齊:標普500指數與納斯達克指數皆呈現小幅上揚,而道瓊斯指數則有所下滑。 投資者的注意力集中在即將到來的聯邦儲備局利率決策和主要企業的財報上。

Ekaterina Kiseleva 11:30 2025-07-29 UTC+2

Nike 股價上漲,道瓊斯下跌,關稅影響 —— 今日影響市場的主要力量

美國和歐盟在達成15%關稅協議後,避免了一場貿易戰。Nike的股票在JP Morgan上調評級後有所上升。

11:19 2025-07-29 UTC+2

Nike 股價飆升,道瓊斯指數下跌,關稅施壓——全球市場目前發生了什麼?

週一,美國股市再度帶來驚喜,S&P 500 指數在連續第六天的交易中以歷史新高收盤。儘管市場波動加劇,納斯達克指數也達到自己的歷史新高。

Thomas Frank 11:05 2025-07-29 UTC+2

7月28日美國市場新聞摘要

美國股市指數收盤普遍上揚,其中標普500指數和納斯達克100指數在美國與歐盟達成新的貿易協定後創下歷史新高,此協定改善了美國企業的前景。 然而,通脹依然是可能影響經濟增長和企業盈利的重要變數。

Ekaterina Kiseleva 12:34 2025-07-28 UTC+2

期待已久的休戰與巨頭收益:本週金融市場有哪些看點?

全球股市指數在本周初均迎來顯著漲幅,歐元也取得了明顯進展。在美國與歐盟的貿易談判取得突破後,市場情緒持續向好,這為美聯儲和日本央行即將召開的關鍵會議提供了明朗預期。

Thomas Frank 11:20 2025-07-28 UTC+2

比特幣的未來可預測嗎?比特幣在乏味交易中呈現低波動性的特徵

根據一些加密貨幣分析師的看法,全球首個加密貨幣的未來顯得可以預測,甚至有些乏味。專家認為,比特幣在交易所交易基金(ETF)的使用未必給它帶來任何好處。

Larisa Kolesnikova 10:40 2025-07-28 UTC+2

華爾街緊張:特朗普訪問聯邦儲備局、UnitedHealth 調查、標普和納斯達克上升

週四的交易以S&P 500和納斯達克的創紀錄收盤作為結束。投資者的樂觀情緒受到Alphabet強勁收益的推動,進而增加了對其他與人工智慧開發相關的頂尖科技公司的興趣。

12:05 2025-07-25 UTC+2

7月25日美國市場新聞摘要

美國股市基準指數當日漲跌不一:S&P 500 指數和納斯達克指數小幅上漲,而道瓊斯指數小幅下跌。 由於對美聯儲貨幣政策走向的不確定性,投資者情緒依舊謹慎。

Ekaterina Kiseleva 11:56 2025-07-25 UTC+2

華爾街緊繃:特朗普訪問美聯儲,UnitedHealth調查,標普和納斯達克增長

週四交易結束時,S&P 500 和 Nasdaq 指數均創下歷史新高,Alphabet 的亮眼業績激發了投資者對人工智慧驅動的科技巨頭股票的熱情。然而,電動車製造商 Tesla 因公布的數據未能讓投資者感到安心,其股價則下滑。

Thomas Frank 11:06 2025-07-25 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.

We are sorry for any inconvenience caused by this message.