Source: FX Empire
Security & Justice
Southern Lebanon Endures Massive Damage: 40,000 Homes Leveled Across 37 Towns
Israeli forces have systematically destroyed entire neighborhoods in southern Lebanon, leveling more than 37 towns and wiping out over 40,000 residential units, according to Lebanon's National News Agency.
Tuesday, November 5, 2024
Gaps in Coastal Radar Enabled Israeli Raid in Batroun, Army Commander Says
Lebanon’s army chief, General Joseph Aoun, detailed to Caretaker Prime Minister Najib Mikati how Israeli forces likely exploited gaps in the country's coastal radar system during the recent raid carried out in Batroun. The briefing comes as Lebanese officials seek answers on how Israel’s elite Shayetet 13 unit carried out the landing undetected.
Monday, November 4, 2024
Opinion
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
A Future Without Hezbollah
At the end of September, when Israel’s campaign to destroy Hezbollah was reaching its height, I met one of the group’s supporters in a seaside café in western Beirut. He was a middle-aged man with a thin white beard and the spent look of someone who had not slept for days. He was an academic of sorts, not a fighter, but his ties to Hezbollah were deep and long-standing.
Thursday, October 31, 2024
Sports
FC Barcelona Fears First Team Star Will Be Banned From Playing, Reports SPORT
FC Barcelona is concerned that one of its main first-team stars will be banned from playing at the turn of 2025 because of issues related to his registration and Financial Fair Play (FFP) limits according to SPORT, which cited anonymous sources.
Friday, November 1, 2024
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Wednesday 13 March 2024 15:14:17
Natural Gas and Oil Forecast: OPEC’s Demand Forecast Raises Hopes
Unexpected U.S. inventory drop and OPEC's firm demand outlook push oil prices higher.
The stronger dollar, influenced by higher-than-expected U.S. inflation data, placed pressure on oil prices. However, ongoing disruptions in the Middle East and potential supply risks prevented significant price drops.
The American Petroleum Institute’s report of a 5.5 million barrel drop in inventories, contrary to the expected increase, indicated a temporary tightening in the U.S. oil market, though this is anticipated to be short-lived due to sluggish local fuel demand.
The Energy Information Administration’s upward revision of its oil production outlook for 2024 counterbalanced optimism from the inventory data. OPEC’s steady demand forecast and the forthcoming International Energy Administration report remain crucial for future oil market dynamics.
Natural Gas Price Forecast
Natural Gas (NG) exhibited a modest increase of 0.34%, pushing the price to $1.777. The commodity’s price movement hints at potential volatility with a pivot point established at $1.80. Resistance levels are identified at $1.90, $1.98, and $2.06, indicating areas where upward pressure may face challenges.
Conversely, support levels at $1.73, $1.68, and $1.62 offer a buffer against declines. The technical landscape, underscored by the 50-day and 200-day Exponential Moving Averages at $1.86 and $1.96 respectively, suggests a bearish trend below $1.86.
A push above this threshold could pivot the market towards a bullish outlook, warranting close observation for future trading decisions.
WTI Oil Price Forecast
In today’s trading, USOIL experienced a slight increase of 0.07%, trading at $78.04. Positioned closely around a critical pivot point of $78.32, the commodity shows potential volatility with established resistance levels at $79.63, $80.67, and $81.65, hinting at possible upward challenges.
Conversely, support levels are identified at $77.38, $76.02, and $74.94, safeguarding against any downward pressure. The 50-day and 200-day Exponential Moving Averages, at $78.32 and $77.17 respectively, highlight a tight trading range.
This positioning suggests a bearish trend below $78.32, but crossing this threshold could signal a shift towards bullish momentum, advising traders to watch these levels closely for future movements.
Brent Oil Price Forecast
Today, UKOIL edged higher by 0.12%, marking a price of $82.4. The analysis reveals a pivotal juncture at the $81.77 pivot point, indicating a delicate balance in market sentiment. Resistance levels are set at $83.02, $84.05, and $85.11, suggesting potential hurdles for upward momentum.
Meanwhile, support is established at $81.06, $79.99, and $79.03, providing crucial cushions for declines. The proximity of the 50-day and 200-day Exponential Moving Averages, at $82.45 and $81.72 respectively, underscores a tightly contested market space.
The trend remains bearish below the $81.77 mark, with a shift above this threshold potentially signifying a change towards bullish dynamics, urging traders to monitor these key indicators closely.
For a look at all of today’s economic events, check out our economic calendar.