{"id":3684,"date":"2023-08-10T11:54:21","date_gmt":"2023-08-10T11:54:21","guid":{"rendered":"https:\/\/blog.trive.com\/?p=3684"},"modified":"2023-08-15T10:38:35","modified_gmt":"2023-08-15T10:38:35","slug":"the-wti-crude-oil-futures-closing-in-on-a-seventh-consecutive-week-of-gains","status":"publish","type":"post","link":"https:\/\/blog.trive.com\/de\/handel\/the-wti-crude-oil-futures-closing-in-on-a-seventh-consecutive-week-of-gains\/","title":{"rendered":"The WTI Crude Oil Futures Closing in on a Seventh Consecutive Week of Gains"},"content":{"rendered":"<p><em>Piece Written By Nkosilathi Dube, Trive Financial Market Analyst<\/em>&nbsp;<\/p>\n\n\n\n<p>The WTI Crude Oil Futures (NYMEX: CL) stands at an intriguing juncture, poised for a pivotal response to today\u2019s unveiling of July\u2019s U.S. year-on-year inflation figures. A compelling narrative unfolds with the year-on-year Core inflation rate anticipated to hold steady at 4.8% and the general inflation rate inching upwards by 30 basis points to 3.3%.&nbsp;<\/p>\n\n\n\n<p>The Oil Futures is closing down on a seventh consecutive week of gains and is up 2% week-to-date primarily due to the supply-side constraints, which have driven it higher over the past few weeks. Will today\u2019s inflation data keep it on the path upward, or is a reversal imminent?&nbsp;<\/p>\n\n\n\n<p><strong>Technische Analyse<\/strong>&nbsp;<\/p>\n\n\n\n<p>The WTI Crude Oil Futures is in a firm uptrend as it flees from its 100-day moving average. The oil futures have broken through prior highs, with the most recent swing high at $83.24 per barrel (BLL) being the last to be breached. The level now forms support, while the $87.75 BLL level establishes a significant peak or resistance formed in November 2022.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Given that the oil futures is trading in a firm uptrend, a possibility exists that the resistance level could materialise, primarily due to the supply-side constraints. However, if U.S. inflation speeds up beyond expectations, the oil futures could falter as the market will likely anticipate higher rates for longer.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"490\" src=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/08\/image-91-1024x490.png\" alt=\"\" class=\"wp-image-3685\" srcset=\"https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/08\/image-91-1024x490.png 1024w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/08\/image-91-300x143.png 300w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/08\/image-91-768x367.png 768w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/08\/image-91-1536x734.png 1536w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/08\/image-91-18x9.png 18w, https:\/\/blog.trive.com\/wp-content\/uploads\/2023\/08\/image-91.png 1600w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Zusammenfassung<\/strong>&nbsp;<\/p>\n\n\n\n<p>The key driver of sentiment will be the U.S. inflation data. If inflation speeds up beyond expectations, the oil futures could falter, leaving the $83.24 BLL level probable in the short to medium term. In contrast, a slowdown in inflation could boost the futures, leaving the $87.75 BLL level probable.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Quellen: Reuters, TradingView&nbsp;<\/p>\n\n\n\n<p><em>This material is provided for informational purposes only and does not constitute financial, investment or other advice. No opinion contained in this material constitutes a recommendation by Trive Financial Services Malta Limited or its author as to any particular investment, transaction or investment strategy and should not be relied upon in making any investment decision. In particular, the information does not take into account the individual investment objectives or financial circumstances of the individual investor. Trive Financial Services Malta Limited shall not be liable for any loss, damage or injury arising from the use of this information.<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Piece Written By Nkosilathi Dube, Trive Financial Market Analyst&nbsp; The WTI Crude Oil Futures (NYMEX: CL) stands at an intriguing juncture, poised for a pivotal response to today\u2019s unveiling of July\u2019s U.S. year-on-year inflation figures. A compelling narrative unfolds with the year-on-year Core inflation rate anticipated to hold steady at 4.8% and the general inflation [&hellip;]<\/p>","protected":false},"author":15,"featured_media":2752,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.10 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The WTI Crude Oil Futures Closing in on a Seventh Consecutive Week of Gains - Trive Blog<\/title>\n<meta name=\"description\" content=\"The WTI Crude Oil Futures stands at an intriguing juncture, poised for a pivotal response to today\u2019s unveiling of July\u2019s U.S. year-on-year inflation figures.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.trive.com\/de\/handel\/the-wti-crude-oil-futures-closing-in-on-a-seventh-consecutive-week-of-gains\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The WTI Crude Oil Futures Closing in on a Seventh Consecutive Week of Gains - 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