⛽ OIL erases gains on OPEC+ concerns

Oil prices took a hit this afternoon after media reports surfaced hinting at a possibility of another meeting delay. It was noted that talks among OPEC+ members on output levels are difficult and that delaying a meeting further while rolling over current policy remains a possibility. Oil dropped around 1% in a knee-jerk move with Brent (OIL) testing $80 per barrel.

Taking a look at OIL at H1 interval, we can see that price erased all of daily gains and dropped into negative territory. A pullback plays well into a bearish technical setup given that it occurred after a failed attempt at breaking above 200-hour moving average (purple line).

Source: xStation5

3 November 2026, 8:33 AM

Gold loses almost 1% 📉

3 November 2026, 7:00 AM

Morning wrap: Stock Indices Fall Again 🚩 Oil Tries To Rebound Following US Strike on Iran’s Qeshm Island (03.11.2026)

2 November 2026, 6:57 PM

Daily Summary: A Rollercoaster Ride in the Commodities Market🚨Oil Drops 7%; Gold Rallies Over 2%💥

2 November 2026, 4:57 PM

🚨Oil and gas in Europe in a panic sell-off

Commodities

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