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Crude oil price forecast, Technical analysis, Support and resistance level, target

US COMEX CRUDE OIL



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Latest Updates on NYMEX Crude Oil

Crude oil on 22nd February 2017 settled lower and closed at $53.59. Crude oil witness selling pressure after three days gains. Oil witness selling pressure as concerns about growing output by producers outside of a pact to curtail global production weighted on crude.

Crude oil settled at $53.20 on 14th February 2017 as concerns about rising supply from US, offset OPEC cuts. Technically crude still stuck in a range bound zone and intraday we can see selling pressure once it holds below $52.77.

Crude oil on Wednesday witnessed selling pressure on Tuesday trading after API reports of US crude stockpile increases to 14.2 million. Crude oil price closed at $51.72 down by 1.6% (0.84 cents). Technically crude crude oil will find support around $50.71.

Crude oil moved higher and closed $ 53.83 on 03rd February 2017 on possibility of new sanctions on Iran after US President statement "nothing is off the table" after missile test by Iran.

NYMEX Crude oil on Thursday trading settled to $53.54, after made an high at $54.34 as rising US crude supplies offset OPEC output cuts.

NYMEX Crude oil on 01st February 2017 settled $53.88 (+2%) on sign that Russia and OPEC are giving sign on reducing prouction. Russia reduce output in January 2017 around 100,000 barrels per day (bpd), data as per Reuters. As per Reuters survey we found OPEC also agreed cuts.

NYMEX Crude oil on 31st January 2017 settled $52.81 and rose a bit on a news that worlds top producer cut production this month more than experts had expected.

Crude oil on 30th January 2017 settled at $52.63 down by 1%, as news of another increase in US drilling activity. It is the highest since November 2015 according to Baker Huges data.



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