{"id":59882,"date":"2026-08-15T11:24:20","date_gmt":"2026-08-15T11:24:20","guid":{"rendered":"https:\/\/www.vtmarkets.com\/en-ca\/uncategorized\/oil-prices-on-track-to-finish-the-week-higher-following-us-rate-cut\/"},"modified":"2026-08-15T11:24:20","modified_gmt":"2026-08-15T11:24:20","slug":"oil-prices-on-track-to-finish-the-week-higher-following-us-rate-cut","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-on-track-to-finish-the-week-higher-following-us-rate-cut\/","title":{"rendered":"Oil prices on track to finish the week higher following US rate cut"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Key points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Brent futures are up 4.3% this week, with US WTI crude rising by 4.8% over the same period.<\/li>\n\n\n\n<li>US crude inventories hit a one-year low, contributing to higher prices despite weak Chinese demand.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<p class=\"wp-block-paragraph\">Brent futures, which were trading down 26 cents or 0.4% at $73.62 a barrel early on Friday, have still gained 4.3% over the week. Similarly, US WTI crude registered a 4.8% rise for the week. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2024\/09\/20240920-154856-1024x475.jpg\" alt=\"On the CL-OIL hourly chart at vtmarkets.com, oil prices have been fluctuating around the 30-period moving average, with the MACD line positioned slightly above the signal line, suggesting a continuation of bullish momentum. The $71.51 resistance level, hit earlier, remains a key area to monitor for potential upside movement. If prices break above this level, further gains towards the $72.00 mark could be expected.\" class=\"wp-image-15073\" style=\"width:1450px;height:auto\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><em>See: WTI oil prices on the rise, trading at 70.915 on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Crude oil prices have seen a marked recovery following a dip near three-year lows on 10 September. Since then, the market has posted gains in five of the past seven sessions, pushing the price to a high of $71.18 before closing at $70.88.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the hourly chart, oil prices have been fluctuating around the 30-period moving average, with the MACD line remaining slightly above the signal line, indicating a continuation of bullish momentum. The $71.51 resistance level, reached earlier, remains a key area to watch for potential upside movement. If prices manage to break above this level, we could see further gains toward the $72.00 mark.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, immediate support lies near the $70.50 level, as seen in the confluence of the 10-period and 30-period moving averages. A break below this could signal a short-term pullback toward $70.00, where stronger support is expected to cushion any declines.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Oil prices dip after Thursday\u2019s surge despite rate cut boost<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">We saw oil prices lose some ground on Friday, pulling back after a surge of over 1% on Thursday. The boost came in response to the US Federal Reserve cutting interest rates by half a percentage point on Wednesday. Such moves typically stimulate economic activity, which tends to raise energy demand. However, some market participants remain cautious, interpreting the rate cut as a sign of softness in the US labour market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The decline in US crude inventories, which fell to their lowest level in a year, is another factor helping to lift oil prices. A supply deficit of approximately 400,000 barrels per day is expected to support Brent crude within the $70 to $75 range through the next quarter. Nonetheless, there is caution in the air, with the possibility that prices could fall in 2025, highlighting future market uncertainty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Previously, in case you misse: <a href=\"https:\/\/www.vtmarkets.com\/analysis\/oil-prices-surge-on-rate-cut-hopes-but-demand-worries-linger\/\">Oil prices surge on rate cut hopes, but demand worries linger<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>Middle East tensions stir uncertainty in oil markets amid supply concerns<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Geopolitical tensions have also been influencing the market. In the Middle East, explosions involving Hezbollah\u2019s communication equipment raised concerns earlier this week. While security sources have pointed fingers at Israel\u2019s Mossad, officials have yet to comment, leaving an air of uncertainty about potential impacts on oil supply routes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>China&#8217;s slowdown raises concerns over future oil demand and prices<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile,<a href=\"https:\/\/x.com\/IEA\/status\/1836314471872053643\"> China\u2019s economic slowdown is acting as a drag on oil demand<\/a>. Refinery output has been declining for five consecutive months, while industrial production growth in the country reached its lowest in five months.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">The world\u2019s oil demand growth is slowing sharply from its post-pandemic rebound<br><br>This is largely coming from decelerating growth in China \u2014 which has long been a driver of global oil demand.<br><br>More on this trend in our new commentary \u2192 <a href=\"https:\/\/t.co\/5qETheDbsa\">https:\/\/t.co\/5qETheDbsa<\/a> <a href=\"https:\/\/t.co\/thC1ogQFE2\">pic.twitter.com\/thC1ogQFE2<\/a><\/p>&mdash; International Energy Agency (@IEA) <a href=\"https:\/\/x.com\/IEA\/status\/1836314471872053643?ref_src=twsrc%5Etfw\">September 18, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, retail sales and new home prices have shown further weakness, reinforcing concerns about China\u2019s economic outlook. As one of the largest importers of oil, any sustained slowdown in Chinese demand could weigh on global prices in the coming months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The market will likely remain focused on how the balance between US economic conditions, geopolitical risks, and Chinese demand evolves in the near term. While the rate cut has supported prices in the short run, weaker demand from China and Middle East tensions could complicate the outlook for oil prices moving forward.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Start trading now \u2014 click <\/strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\"><strong>here<\/strong><\/a><strong> to create your live VT Markets account.<\/strong><\/p>\n\r\n\n\n\n<p class=\"wp-block-paragraph\"><b>Start trading now \u2014 click <a href=\"https:\/\/www.vtmarkets.com\/en-ca\/trade-now\/\">here<\/a> to create your real VT Markets account.<\/b>\n\n<\/p>\n\n<!-- vt-src:15072 -->","protected":false},"excerpt":{"rendered":"<p>Brent futures, which were trading down 26 cents or 0.4% at $73.62 a barrel early on Friday, have still gained 4.3% over the week. Similarly, US WTI crude, slightly down by 0.2% at $71.80, registered a 4.8% rise for the week. -vtmarkets.com<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-59882","post","type-post","status-publish","format-standard","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 5.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Brent futures, which were trading down 26 cents or 0.4% at $73.62 a barrel early on Friday, have still gained 4.3% over the week. Similarly, US WTI crude, slightly down by 0.2% at $71.80, registered a 4.8% rise for the week. -vtmarkets.com\" \/>\n\t<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-on-track-to-finish-the-week-higher-following-us-rate-cut\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO Pro (AIOSEO) 5.0.1\" \/>\n\n\t\t<script type=\"text\/javascript\"> (function(c,l,a,r,i,t,y){ c[a]=c[a]||function(){(c[a].q=c[a].q||[]).push(arguments)}; t=l.createElement(r);t.async=1;t.src=\"https:\/\/www.clarity.ms\/tag\/\"+i; y=l.getElementsByTagName(r)[0];y.parentNode.insertBefore(t,y); })(window, document, \"clarity\", \"script\", \"hvd42hy9tt\"); <\/script>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"VT Markets -\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"Oil prices on track to finish the week higher following US rate cut - VT Markets\" \/>\n\t\t<meta property=\"og:description\" content=\"Brent futures, which were trading down 26 cents or 0.4% at $73.62 a barrel early on Friday, have still gained 4.3% over the week. Similarly, US WTI crude, slightly down by 0.2% at $71.80, registered a 4.8% rise for the week. -vtmarkets.com\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-on-track-to-finish-the-week-higher-following-us-rate-cut\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2026-08-15T11:24:20+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2026-08-15T11:24:20+00:00\" \/>\n\t\t<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vtmarketsglobal\/\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:site\" content=\"@vtmarketsglobal\" \/>\n\t\t<meta name=\"twitter:title\" content=\"Oil prices on track to finish the week higher following US rate cut - VT Markets\" \/>\n\t\t<meta name=\"twitter:description\" content=\"Brent futures, which were trading down 26 cents or 0.4% at $73.62 a barrel early on Friday, have still gained 4.3% over the week. 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Similarly, US WTI crude, slightly down by 0.2% at $71.80, registered a 4.8% rise for the week. -vtmarkets.com","inLanguage":"en-US","isPartOf":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/#website"},"breadcrumb":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-on-track-to-finish-the-week-higher-following-us-rate-cut\/#breadcrumblist"},"author":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/author\/josephine\/#author"},"creator":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/author\/josephine\/#author"},"datePublished":"2026-08-15T11:24:20+00:00","dateModified":"2026-08-15T11:24:20+00:00"},{"@type":"WebSite","@id":"https:\/\/www.vtmarkets.com\/en-ca\/#website","url":"https:\/\/www.vtmarkets.com\/en-ca\/","name":"VT Markets","inLanguage":"en-US","publisher":{"@id":"https:\/\/www.vtmarkets.com\/en-ca\/#organization"}}]},"og:locale":"en_US","og:site_name":"VT Markets -","og:type":"article","og:title":"Oil prices on track to finish the week higher following US rate cut - VT Markets","og:description":"Brent futures, which were trading down 26 cents or 0.4% at $73.62 a barrel early on Friday, have still gained 4.3% over the week. Similarly, US WTI crude, slightly down by 0.2% at $71.80, registered a 4.8% rise for the week. -vtmarkets.com","og:url":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-on-track-to-finish-the-week-higher-following-us-rate-cut\/","article:published_time":"2026-08-15T11:24:20+00:00","article:modified_time":"2026-08-15T11:24:20+00:00","article:publisher":"https:\/\/www.facebook.com\/vtmarketsglobal\/","twitter:card":"summary_large_image","twitter:site":"@vtmarketsglobal","twitter:title":"Oil prices on track to finish the week higher following US rate cut - VT Markets","twitter:description":"Brent futures, which were trading down 26 cents or 0.4% at $73.62 a barrel early on Friday, have still gained 4.3% over the week. Similarly, US WTI crude, slightly down by 0.2% at $71.80, registered a 4.8% rise for the week. -vtmarkets.com","twitter:creator":"@vtmarketsglobal"},"aioseo_meta_data":{"post_id":"59882","title":null,"description":null,"keywords":null,"keyphrases":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_custom_url":null,"og_image_custom_fields":null,"og_custom_image_width":null,"og_custom_image_height":null,"og_video":null,"og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema_type":null,"schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":null,"robots_max_videopreview":null,"robots_max_imagepreview":"none","tabs":null,"priority":null,"frequency":null,"local_seo":null,"created":"2026-08-15 11:24:20","updated":"2026-08-15 11:24:20"},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/www.vtmarkets.com\/en-ca\" title=\"Home\">Home<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\t<a href=\"https:\/\/www.vtmarkets.com\/en-ca\/category\/analysis\/\" title=\"Today&apos;s Analysis\">Today's Analysis<\/a>\n<\/span><span class=\"aioseo-breadcrumb-separator\">\u00bb<\/span><span class=\"aioseo-breadcrumb\">\n\tOil prices on track to finish the week higher following US rate cut\n<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/www.vtmarkets.com\/en-ca"},{"label":"Today's Analysis","link":"https:\/\/www.vtmarkets.com\/en-ca\/category\/analysis\/"},{"label":"Oil prices on track to finish the week higher following US rate cut","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/oil-prices-on-track-to-finish-the-week-higher-following-us-rate-cut\/"}],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/59882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=59882"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/59882\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=59882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=59882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=59882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}