Oil prices rise on hurricane impact
Oil prices climbed further Wednesday, extending gains following the damage from Hurricanes Nicholas and Ida.
The Energy Department indicated a larger than expected decrease in domestic crude inventories. U.S. crude stocks fell by -6.4 million barrels over the week ending September 10, more than twice the consensus market forecast. Gasoline stockpiles are at their lowest levels since 2017, according to the EIA.
Following release of the EIA data, WTI crude futures for October delivery were +2.6% higher on the session at $73.04 per barrel and Brent crude contracts for November delivery had +3.4% gain to trade at $76.10 per barrel.
BNO in upward trend: 10-day moving average crossed above 50-day moving average on June 06, 2025
The 10-day moving average for BNO crossed bullishly above the 50-day moving average on June 06, 2025. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on July 08, 2025. You may want to consider a long position or call options on BNO as a result. In of 93 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BNO advanced for three days, in of 335 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 299 cases where BNO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for BNO moved out of overbought territory on June 23, 2025. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 44 similar instances where the indicator moved out of overbought territory. In of the 44 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.
The Moving Average Convergence Divergence Histogram (MACD) for BNO turned negative on June 25, 2025. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 51 similar instances when the indicator turned negative. In of the 51 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BNO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
BNO broke above its upper Bollinger Band on June 17, 2025. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
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General Information
Category CommoditiesBroadBasket
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