Oil Price Makes New Low on Economic Worries | Crude Oil News & Chart Analysis

The crude oil price dropped to a 2022 low in today's session. Pressure coming from concerns about a prolonged and truly global recession played the most important role for oil prices to slide, canceling the effect of an oil price cap for Russian oil impacting supply.

WTI crude is trading at $73.04 at the time of writing and is slightly above the low for the day at $72.57. Warnings from large U.S. banks about a recession propped up the dollar and that seems to have had a bearish effect on oil.

00:00 Intro
00:15 Crude Oil news - crude oil makes 2022 low, recession props up dollar, Covid measures loosened in China
08:08 Crude Oil support and resistance
08:49 Crude Oil technical analysis
13:26 Recap

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[senpai]

Always appreciated. You guys are doing a stellar job!

[donaldmaxbauer]

Wow! Her usual great presentation, this time with greatly improved sound quality.

[lueiengyap]

Tq for indepth explaination of crude oil trends.
Keep update. Cheers

[cembulutizmir]

Looks like buying opportunity indeed. Ban had no upward impact yet.

[vivekpandey]

Where is David Jones these days? Kind a miss him

[KemalKaratatar]

Daniela, Probably it will reach down breakpoint USD60 till March 2023👁️✋

[shaikhjaved]

Request to make video on Natural gas analysis

[TheRIBLING]

Oil price is going to fade! How does anyone compete with this price cap.

[philolen]

/CL Crude ski -- Big draw the API & EIA But build in gasoline & dist -- lower low today downside watch 72.42 - 71.96 - 70.61 - 69.10 - 68.03 - 67.52 the 200sma wkly is at 65.03 the Big target -- upside watch 73.41 - 74.27 - 75.38 - 76.29 - 77.80 8sma Key RES Level - 78.40 - 79.65 - 80.34 - 81.24 21sma Key RES Level -- for me been short since the double top on the daily 11/7/22 & scalp the long daily until I see a bottom on the daily a higher low a Reddog something that tells me the selling is done -- will go flame thrower Big on the long side if it gets to & holds the 200sma wkly 65.03 ( :

[kimisjepoedel]

can uexplain how it effects the oil.price when russia or china does something

[dereyaify]

The new technology learned us to worry about the future, it’s unfortunately that the greedy companies are working to create lies about the future

[kimisjepoedel]

if chinaopens how does it effect oil good or bad

[jiri]

“Russia comes backs and decides to completely stop their exports to G7 countries including US, UK and EU countries” ???
What are you talking about?
USA stopped importing Russian oil more than 6 months ago!
And starting on 5th of December also EU countries do not import any of Russian seaborne oil. The only exceptions are CZ, SK and HU countries importing Russian oil through southern druzhba pipeline. These three countries are relatively small and represent no significant volumes.
On the other hand, Russia will have to reallocate more than 1millon of barrels previously distributed by northern pipelines to EU (mostly to Poland and Germany), for which there is at this time simply no existing alternative infrastructure – russian seaports do not have enough capacity, no or inadequate pipeline connections to those seaports, and definitely not enough shipping capacity by rusty Russian shadow fleet.
Also since February no other Russian oil made products will be imported to EU! Therefore Russia will have to summon even more rusty ships to carry its oil products to other markets, ships that simply are not there!
And I am really concerned it will be only matter of time until some of those rusty ships end up as disastrous ecological wreckage somewhere in Mediterranean Sea
So on one side there will be at least 1 million of barrels shortage on global oil market because Russians won’t be able to deliver its previous volumes to countries still willing to buy it.
And on the other side Russia will encounter higher shipping costs due to less effective forms of distribution of its oil and oil products simultaneously facing price caps therefore making minimal margins

[kippsguitar]

As I keep posting on this channel, short oil, since the summer and this channel has been long and spectacularly wrong with it's meaningless "analysis", your colleague David even messaged me to say I was wrong to go short, now you are doing fomo, too late now people