Source: FX Empire
For years, the serene villages of Jbeil's highlands have been far from peaceful. Ghabat, a Maronite village nestled between the predominantly Shiite towns of Afqa and Lassa, has become a focal point of growing tensions due to territorial disputes.
Friday, December 20, 2024
Caretaker Minister of Interior, Bassam Mawlawi, conducted an inspection tour of Rafic Hariri International Airport in Beirut to review the security arrangements and measures implemented by the Airport Security Apparatus ahead of the holiday season.
Thursday, December 19, 2024
The United States has important equities in Lebanon, including a desire for a generally friendly government’s economic and political stability; security cooperation; long-standing relations with the large Christian community in Lebanon and Lebanese diaspora in the United States; and ultimately peace between Israel and Lebanon within a broader regional settlement. Achieving these objectives will require navigating a tumultuous period in the country’s history following a war between Hezbollah and Israel that has devastated a large part of the country, exacerbating Lebanon’s already challenging economic conditions. But perhaps the most important dynamic will be how a likely Sunni-dominated state of uncertain composition in Syria will differ in its intentions toward Lebanon from the previous Alawite-led minoritarian Assad regime.
Thursday, December 19, 2024
The news of the sudden and unexpected demise of Bashar al-Assad’s regime in Syria has met a mixed response in Europe. The jubilation that a murderous dictator and close ally of Russia and Iran has fallen is not just good for the Syrian people but serves as a morale booster for Eastern Europeans wondering whether Russia can be defeated
Wednesday, December 18, 2024
Cristiano Ronaldo, one of the richest global athletes, has unveiled his upgraded private jet reportedly worth $73 million. With its top-notch design, exceptional speed and range of 7500 nautical miles, the Gulfstream G650 is among the fastest jets in the world.
Monday, December 16, 2024
Manchester City manager Pep Guardiola believes he will need a bigger squad to handle soccer’s ever-expanding fixture schedule.
Saturday, December 14, 2024
Monday 1 April 2024 12:14:42
Oil Rally Amid Russian Cuts: Anticipated reductions in Russian output fuel robust Q1 gains, easing global surplus fears.
Oil prices saw a significant increase during the last week, ending the first quarter with robust gains due to anticipated reductions in Russian output, which mitigated concerns over a potential global supply surplus.
The price surge in USOIL and UKOIL was driven by continued production curbs by OPEC+ members, including Russia and Saudi Arabia, and heightened geopolitical tensions in the Middle East affecting supply stability.
This scenario is likely to influence the upcoming OPEC+ meeting, with expectations leaning towards maintaining the current output policy, potentially impacting future oil and natural gas market forecasts.
Natural Gas (NG)
exhibits a slight downturn, trading at $1.797, down 0.39%. The pivotal point at $1.79920 will determine its near-term direction. Resistance levels at $1.84390, $1.87590, and $1.91150 mark potential upward barriers, while support at $1.76480, $1.72080, and $1.67930 will test its stability.
The 50 EMA at $1.7991 and 200 EMA at $1.8785 suggest a cautious market sentiment. Currently, the trend for Natural Gas is bearish below $1.79920, but crossing this threshold could tilt the bias towards a bullish outlook.
USOIL continues to exhibit strength, trading at $83.46, marking a 0.45% increase. The pivot point stands at $82.90, shaping the short-term market outlook. Key resistance levels are identified at $83.76, $84.53, and $85.26, which if surpassed, could signal further bullish momentum.
Support levels are established at $82.31, $81.48, and $80.40, offering potential bounce points during pullbacks. The 50-day and 200-day EMAs at $81.52 and $79.37, respectively, underpin the upward trend.
With the market leaning bullish above $82.90, USOIL’s price trajectory seems poised for growth, barring a dip below the pivot that could precipitate a bearish shift.
UKOIL‘s market stance remains robust, with a current trading price of $87.27, reflecting a 0.38% increase. The pivotal point at $86.55 delineates the market sentiment, with resistance levels at $87.29, $88.14, and $89.00 dictating potential upward momentum.
On the flip side, support is established at $85.61, $84.69, and $83.94, crucial for mitigating declines. The 50-day EMA at $85.72 and the 200-day EMA at $83.80 solidify the upward trend.
Predominantly, UKOIL exhibits a bullish trend above $86.55, yet a fall below this pivot could signal a bearish reversal.
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