• 3 minutes In a Nutshell...
  • 5 minutes CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 7 minutes Australian renewables zone attracts 27 GW of solar, wind, battery proposals
  • 9 minutes Why Oil could hit $100
  • 3 hours COVID is real now
  • 1 hour The Quad naval alliance forming.
  • 13 hours The Grey Lady has fallen (further into irrelevancy)
  • 22 hours Is The Three Gorges Dam on the Brink of Collapse?
  • 2 days Where is Alberta, Canada headed?
  • 14 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 15 hours The Boris Yeltsin of America
  • 1 day Is the oil & gas industry on the way out?
  • 2 days Joe Biden offers advice to correct the public health
  • 2 days There Has Been No Trump Manufacturing Boom Even Before Covid
  • 2 days Fauci: "USA will soon have 100K new cases per day". Trump re(p)-lies: "The problem has been fixed"
  • 2 days Why Putin is popular in Russia
Libya Lifts Force Majeure On All Oil Exports

Libya Lifts Force Majeure On All Oil Exports

After six months of port…

Libya Declares Force Majeure On Oil Exports Again

Libya Declares Force Majeure On Oil Exports Again

Just two days after it lifted the…

Chinese Oil Imports Surged In H1 2020 Despite COVID-19

Chinese Oil Imports Surged In H1 2020 Despite COVID-19

Despite the devastating coronavirus pandemic…

Editorial Dept

Editorial Dept

More Info

Premium Content

Crude Oil Awaiting Guidance

Crude oil is starting the new week on a down note as economic worries continue to dictate near-term price direction. Last week oil lost an enormous 8.6% after double dip fears really started to gain traction amid dismal economic reports out of the U.S.

Equally disappointing figures in Europe and China did not help matters and now traders are on pins and needles awaiting this week’s readings, as they try to gauge the health of the global economic recovery.

Further evidence of a slowdown or worse will likely send crude oil plummeting further, while positive readings could lead to stabilization or even a rally. On Tuesday, the ISM will release their services index.

A reading of 55 is expected for the month of June, down from 55.4 in the prior month. With regard to technicals, look for support near the key $69.50 level, while resistance lies at $75.50.

Crude Oil Price Chart


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News