Gold/WTI

The International Energy Agency (IEA) said on Thursday that global oil demand growth has markedly decelerated and is set for just 900,000 barrels per day (bpd) in 2024 due to rapidly slowing Chinese consumption. The Agency cut its growth estimate by 70,000 bpd from last month’s assessment. Global oil demand growth in the first half of 2024 was only 800,000 ...

WTI crude oil has finally climbed higher from the 17-month low of 65.70 after the aggressive selling interest from the 78.75 resistance. Over the last three weeks, the commodity has lost more than 16%, switching the outlook to strongly bearish. According to technical oscillators, the MACD is losing its negative momentum and is ticking slightly up, while the ...