🛢Oil prices recover from weekly losses📈

On the weekly charts of both Brent and WTI crude oil, we see that the potential hammer candlestick pattern is forming as the losses from the beginning of the week have been erased. It is worth mentioning that the sell-off took place after the OPEC + agreement was reached to further restore production, although in the medium term, the new agreement may be treated positively for the oil market. Crude oil gains in the second part of the week follow the rebound in the stock market, which is no longer concerned about the strong increase in the number of coronavirus cases or inflation. The European Central Bank kept its dovish stance and the same is expected of the Fed on Wednesday. It is also worth noting that the dollar's recent strength does not weigh on the oil at this point.

Brent crude oil is recovered from this week's losses and is gaining ground today. Source: xStation5

11 June 2026, 6:55 AM

Morning Wrap: Risk appetite is back despite new exchange of US-Iran strikes (11.06.2026)

10 June 2026, 6:23 PM

Daily Summary: Stocks and gold on their knees as US will continue strikes on Iran (10.06.2026)

10 June 2026, 4:41 PM

Crude Oil Output Drops to a Two-Decades Low 🛢️ 📉 Market freezes after EIA report 📌

10 June 2026, 3:30 PM

The conflict in Iran does not have to end

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