Read more
4:40 PM · 20 December 2023

⛽ OIL climbs above $80 per barrel

OIL
Commodities
-
-

Oil prices continue to climb as risks to shipping in the Red Sea continue to increase. US, along with its allies, plan to create a coalition that will be help ensure stability in one of the world's most important waterways amid more frequent attacks of Yemen-based Houthi rebels on commercial vessels. Military action against Houthi rebels in Yemen has not been ruled out. Houthi responded to these developments saying that if US becomes more involved, they will respond by targeting US battleships and interests in the region.

Brent (OIL) trades over 1% higher on the day, even in spite of US inventory data showing builds in crude oil, gasoline and distillate stockpiles. OIL is trading around 11% above an intraday low reached December 13, 2023. Taking a look at D1 chart, we can see that bulls are now attempting to deliver a clear breakout above the $80 resistance zone. Should they succeed, way towards the next resistance zone - $82.50 area, marked with previous price reactions and 50-session moving average (green line) - would be opened. 

Source: xStation5

7 November 2025, 6:49 PM

Daily summary - Government stays shut, Market declines, crypto recovers

6 November 2025, 7:17 PM

Daily summary: Optimism on Wall Street eases again🗽US Dollar drops from recent highs

6 November 2025, 6:48 PM

Coffee futures drop as huge Brazilian shipping to Europe eases supply concerns

6 November 2025, 6:36 PM

Cocoa falls 3% amid improving crops in West Africa

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