Analysis

West Texas Intermediate (WTI) US Crude Oil prices trade with a positive bias for the third successive day on Wednesday and placed around mid-$71.00s during the Asian session.

Crude Oil struggles to hold $70.00, with more downside expected. 

Investing.com -- U.S. crude oil futures were higher in post-settlement trading Wednesday after the American Petroleum Institute reported an unexpectedly decrease in weekly domestic crude stocks.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $70.70 on Thursday. The WTI price edges lower after selling off on reports that Israel will not attack Iran’s oil facilities.

Crude Oil trades on the back foot on Monday following the release of the monthly Organization of the Petroleum Exporting Countries (OPEC) report.

HOUSTON (Reuters) -Oil prices settled lower on Friday but rose for the second straight week as investors weighed factors such as possible supply disruptions in the Middle East and Hurricane Milton's impact on fuel demand in Florida.

SINGAPORE (Reuters) -Oil retreated on Friday after settling higher the previous day, but prices remained set for a second weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites.

WTI consolidates the overnight gains and oscillates in a narrow band on Friday.

SINGAPORE (Reuters) - Oil prices rose on Thursday underpinned by a spike in fuel demand as a major storm barrelled into Florida and concerns about potential supply disruptions in the Middle East amid heightened tensions between Israel and major oil producer Iran.

TradingKey - The Pentagon announced that Israel's Defense Minister postponed his October 9 U.S. visit, which was seen as a key opportunity for the U.S. and Israel to formulate a strategy to counter Iran.

Crude Oil finds some support and stabilzes on Wednesday after over 4% correction the previous day when Israel refrained from responding firmly to the recent attacks from Iran.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $73.35 on Wednesday. The WTI price edges lower on the report of a possible ceasefire between Hezbollah and Israel. However, the fears of a potential attack on Iranian oil infrastructure might cap its downside. 

LONDON (Reuters) -Oil prices declined on Tuesday with concerns over potential oil supply disruption easing as the market still awaits an Israeli response to the Iranian rocket attacks last week which triggered the crude price rally.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $76.85 on Thursday. The WTI price extends the rally as escalating geopolitical tensions in the Middle East raised speculation that Israel may attack Iran’s oil infrastructure.

SINGAPORE (Reuters) -Oil prices eased for a third day on Friday and were on track to fall for the week as investors focused on expectations of increased output from Libya and the broader OPEC+ group, although fresh stimulus from top importer China limited losses.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.30 on Wednesday. WTI price edges higher amid the positive development surrounding Chinese stimulus measures and ongoing geopolitical tensions in the Middle East. 

West Texas Intermediate (WTI) Oil price continues to gain ground, trading around $71.50 during the Asian hours on Monday.

Crude oil markets are under increasing downward pressure, with a breakdown in prices pointing to further weakness ahead.

WTI consolidates its recovery gains registered over the past two days amid mixed cues.

Investing.com-- Oil prices rose in Asian trade on Friday and were set for a positive close to the week as concerns over supply disruptions stemming from Hurricane Francine helped crude rebound from near three-year lows.