Brent Crude – Volatile start for oil ahead of OPEC+ meeting
<p><a href="https://api.addthis.com/oexchange/0.8/forward/facebook/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Foil%2Fbrent-crude-volatile-start-for-oil-ahead-of-opec-meeting%2Fcerlam&pubid=ra-525512e4690e068c&title=Marketpulse%20%7C%20Home&ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/facebook.png" border="0" alt="Facebook" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/twitter/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Foil%2Fbrent-crude-volatile-start-for-oil-ahead-of-opec-meeting%2Fcerlam&pubid=ra-525512e4690e068c&title=Marketpulse%20%7C%20Home&ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/twitter.png" border="0" alt="Twitter" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/email/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Foil%2Fbrent-crude-volatile-start-for-oil-ahead-of-opec-meeting%2Fcerlam&pubid=ra-525512e4690e068c&title=Marketpulse%20%7C%20Home&ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/email.png" border="0" alt="Email" /></a></p><ul>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's been a volatile start to the week for oil, with prices initially rising before falling negative to trade almost 2% lower on the day. We've had a vast selection of PMIs to bear in mind today, as well as speculation around the OPEC+ decision on Wednesday and, of course, the US averted a government shutdown."}]}" data-slate-node="element"><strong>PMIs continue to point to a weakness in demand</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's been a volatile start to the week for oil, with prices initially rising before falling negative to trade almost 2% lower on the day. We've had a vast selection of PMIs to bear in mind today, as well as speculation around the OPEC+ decision on Wednesday and, of course, the US averted a government shutdown."}]}" data-slate-node="element"><strong>OPEC+ holds the key to crude oil prices</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's been a volatile start to the week for oil, with prices initially rising before falling negative to trade almost 2% lower on the day. We've had a vast selection of PMIs to bear in mind today, as well as speculation around the OPEC+ decision on Wednesday and, of course, the US averted a government shutdown."}]}" data-slate-node="element"><strong>Lost momentum ahead of recent decline</strong></li>
</ul>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's been a volatile start to the week for oil, with prices initially rising before falling negative to trade almost 2% lower on the day. We've had a vast selection of PMIs to bear in mind today, as well as speculation around the OPEC+ decision on Wednesday and, of course, the US averted a government shutdown."}]}" data-slate-node="element"><span data-slate-node="text">It’s been a volatile start to the week for oil, with prices initially rising before falling negative to trade almost 2% lower on the day. </span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"It's been a volatile start to the week for oil, with prices initially rising before falling negative to trade almost 2% lower on the day. We've had a vast selection of PMIs to bear in mind today, as well as speculation around the OPEC+ decision on Wednesday and, of course, the US averted a government shutdown."}]}" data-slate-node="element"><span data-slate-node="text">We’ve had a vast selection of PMIs to bear in mind today, as well as speculation around the OPEC+ decision on Wednesday and, of course, the US averted a government shutdown.</span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"I'm not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we're seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday."}]}" data-slate-node="element" data-slate-fragment="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"><span data-slate-node="text">I’m not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we’re seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday.</span></p>
<p style="text-align: center" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"I'm not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we're seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday."}]}" data-slate-node="element" data-slate-fragment="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"><iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/hJQjVpFshpQ?si=vDFFUo8UGZ9QZeMv" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p style="text-align: center" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"I'm not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we're seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday."}]}" data-slate-node="element" data-slate-fragment="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"><strong>BCOUSD Daily</strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"I'm not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we're seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday."}]}" data-slate-node="element" data-slate-fragment="JTVCJTdCJTIydHlwZSUyMiUzQSUyMnBhcmFncmFwaCUyMiUyQyUyMmNoaWxkcmVuJTIyJTNBJTVCJTdCJTIydGV4dCUyMiUzQSUyMkl0J3MlMjBiZWVuJTIwYSUyMHZvbGF0aWxlJTIwc3RhcnQlMjB0byUyMHRoZSUyMHdlZWslMjBmb3IlMjBvaWwlMkMlMjB3aXRoJTIwcHJpY2VzJTIwaW5pdGlhbGx5JTIwcmlzaW5nJTIwYmVmb3JlJTIwZmFsbGluZyUyMG5lZ2F0aXZlJTIwdG8lMjB0cmFkZSUyMGFsbW9zdCUyMDIlMjUlMjBsb3dlciUyMG9uJTIwdGhlJTIwZGF5LiUyMFdlJ3ZlJTIwaGFkJTIwYSUyMHZhc3QlMjBzZWxlY3Rpb24lMjBvZiUyMFBNSXMlMjB0byUyMGJlYXIlMjBpbiUyMG1pbmQlMjB0b2RheSUyQyUyMGFzJTIwd2VsbCUyMGFzJTIwc3BlY3VsYXRpb24lMjBhcm91bmQlMjB0aGUlMjBPUEVDJTJCJTIwZGVjaXNpb24lMjBvbiUyMFdlZG5lc2RheSUyMGFuZCUyQyUyMG9mJTIwY291cnNlJTJDJTIwdGhlJTIwVVMlMjBhdmVydGVkJTIwYSUyMGdvdmVybm1lbnQlMjBzaHV0ZG93bi4lMjIlN0QlNUQlN0QlMkMlN0IlMjJ0eXBlJTIyJTNBJTIycGFyYWdyYXBoJTIyJTJDJTIyY2hpbGRyZW4lMjIlM0ElNUIlN0IlMjJ0ZXh0JTIyJTNBJTIySSdtJTIwbm90JTIwc3VyZSUyMGFsbCUyMG9mJTIwdGhpcyUyMGlzJTIwYSUyMG5ldCUyMG5lZ2F0aXZlJTIwZm9yJTIwb2lsJTJDJTIwcGVyJTIwc2UlMkMlMjBidXQlMjBpdCUyMHdhcyUyMHRyYWRpbmclMjBhdCUyMHZlcnklMjBoaWdoJTIwbGV2ZWxzJTIwcHJpb3IlMjB0byUyMHRoaXMlMjBhbmQlMjBoYWQlMjBhbHJlYWR5JTIwc3RhcnRlZCUyMHRvJTIwbG9zZSUyMG1vbWVudHVtJTIwc28lMjBwZXJoYXBzJTIwd2hhdCUyMHdlJ3JlJTIwc2VlaW5nJTIwaXMlMjBhJTIwY2FzZSUyMG9mJTIwcHJvZml0LXRha2luZy4lMjBFc3BlY2lhbGx5JTIwZ2l2ZW4lMjB0aGUlMjBwcm94aW1pdHklMjB0byUyMHRoZSUyME9QRUMlMkIlMjBtZWV0aW5nJTIwb24lMjBXZWRuZXNkYXkuJTIyJTdEJTVEJTdEJTVE"><a href="https://www.marketpulse.com/wp-content/uploads/2023/10/BCOUSD_2023-10-02_22-16-31.png" target="_blank" rel="noopener"><img loading="lazy" class="aligncenter wp-image-807890" src="https://www.marketpulse.com/wp-content/uploads/2023/10/BCOUSD_2023-10-02_22-16-31-1024×436.png" alt="" width="620" height="264" srcset="https://www.marketpulse.com/wp-content/uploads/2023/10/BCOUSD_2023-10-02_22-16-31-1024×436.png 1024w, https://www.marketpulse.com/wp-content/uploads/2023/10/BCOUSD_2023-10-02_22-16-31-300×128.png 300w, https://www.marketpulse.com/wp-content/uploads/2023/10/BCOUSD_2023-10-02_22-16-31-768×327.png 768w, https://www.marketpulse.com/wp-content/uploads/2023/10/BCOUSD_2023-10-02_22-16-31-1536×654.png 1536w, https://www.marketpulse.com/wp-content/uploads/2023/10/BCOUSD_2023-10-02_22-16-31.png 1793w" sizes="(max-width: 620px) 100vw, 620px" /></a></p>
<p style="text-align: right" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"I'm not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we're seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday."}]}" data-slate-node="element" data-slate-fragment="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">Source – OANDA on Trading View</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"I'm not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we're seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday."}]}" data-slate-node="element" data-slate-fragment="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">The recent decline in BCOUSD came following a rally and new high that failed to be backed up by stronger momentum and now it appears to have potentially moved into a corrective phase.</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"I'm not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we're seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday."}]}" data-slate-node="element" data-slate-fragment="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">A divergence often isn’t followed by such a sudden corrective move and this may also quickly reverse higher again but the moves over the last few days are not small.</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"I'm not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we're seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday."}]}" data-slate-node="element" data-slate-fragment="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">The price is now testing last week’s lows and a break below may point to further declines, with support in the $88-$90 region potentially key.</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"I'm not sure all of this is a net negative for oil, per se, but it was trading at very high levels prior to this and had already started to lose momentum so perhaps what we're seeing is a case of profit-taking. Especially given the proximity to the OPEC+ meeting on Wednesday."}]}" data-slate-node="element" data-slate-fragment="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">Ultimately, though, the OPEC+ decision on Wednesday may dictate the direction of travel.</p>
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