Read more
7:42 AM · 12 October 2022

Chart of the day - OIL (12.10.2022)

-
-
Open account Download free app

Oil has been volatile this morning. Polish pipeline operator Pern informed that it has found a leak in the Druzhba oil pipeline that connects Russia and Germany. Oil prices caught a bid on the news as such incidents further increase concerns over Europe's energy security, following damage done to Nord Stream gas pipelines by underwater explosions in late-September. Cause of the leak is yet to be determined. Brent (OIL) gained over $1 on the news, moving from around $88.65 to $89.85 per barrel. However, those gains did not last long and a big part of the move was erased.

Taking a look at OIL chart at the H1 interval, we can see that the advance was halted at the resistance zone marked with previous price reactions and the 23.6% retracement of the recent upward impulse. Should OIL return to a downward move, another test of the zone marked with 38.2% retracement, that halted declines yesterday in the evening, cannot be ruled out.

Source: xStation5

13 February 2026, 11:56 AM

BREAKING: Oil prices plummet amid rumors of further OPEC production increases 🚨

13 February 2026, 6:54 AM

Morning Wrap: Global sell-off in the technology sector (13.02.2026)

12 February 2026, 7:03 PM

Daily summary: Silver plunges 9% 🚨Indices, crypto and precious metals under pressure

12 February 2026, 4:41 PM

🚨Gold slumps 3% amid markets preparing for Chinese Lunar Year pause

Join over 2 000 000 XTB Group Clients from around the world
The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits