{"id":52024,"date":"2023-01-12T15:34:42","date_gmt":"2023-01-12T13:34:42","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=52024"},"modified":"2025-10-17T12:49:09","modified_gmt":"2025-10-17T09:49:09","slug":"wti-lifted-by-chinas-reopening-prospects","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/","title":{"rendered":"WTI lifted by China\u2019s reopening prospects"},"content":{"rendered":"

This week, crude prices<\/strong><\/a> started<\/strong> recovering<\/strong> from their steep fall, suffered in the first couple sessions of 2023 and pared<\/strong> most of their weekly losses<\/strong>, as improved sentiment<\/strong> alongside prospects for a rebound in energy consumption from China\u2019s reopening<\/strong> sustained<\/strong> WTI\u2019s ascend<\/strong>. Paradoxically, grim forecasts<\/strong> by the World Bank<\/strong> for the global economy and unexpected buildups<\/strong> in both EIA and API crude<\/strong> oil<\/strong> inventories<\/strong> appeared to have minimal impact of WTI<\/strong> prices. Regardless, energy traders will be paying attention to the US inflation report<\/strong> later due out later today which is expected to cool<\/strong> and could validate their assessment for an extension of crude prices to the upside<\/strong>. In this report we aim to shed light on the catalysts driving WTI\u2019s price, assess its future outlook and conclude with a technical analysis.<\/p>\n

Prospects for a rebound in energy consumption lift WTI<\/strong><\/h2>\n

WTI<\/strong> prices found<\/strong> support<\/strong> from revamped hopes for a strong comeback from China<\/strong>, which appears committed at shedding away its strict zero covid policy<\/strong> and return to normalization. The prospects for increased demand<\/strong> for crude<\/strong> has been the major driver behind the recent jump of oil prices, yet analysts caution that the reopening plans<\/strong> may be impeded as surging covid<\/strong> cases pile up across major Chinese cities. More recently, the World Health Organization<\/strong> expressed concerns related to data gathering practices from Chinese authorities regarding infections, deeming them plain \u201cunreliable\u201d. Moreover, oil traders do not seem to be fazed<\/strong> by the recent comments from IMF<\/strong> and the World Bank<\/strong>, which more or less delivered a strikingly similar message. Both organizations forecast<\/strong> that the global economy will face serious hurdles in 2023<\/strong> as economic activity<\/strong> stemming from the world\u2019s strongest powerhouses, the US , Europe and China, is expected to slowdown<\/strong> considerably. The IMF<\/strong> placed particular emphasis on China\u2019s growth projections and warned that \u201cfor the next couple of months, it would be tough for China, and the impact on Chinese growth would be negative\u201d and highlighted that surging infection cases across the country are expected to hurt the economy, impacting growth on the domestic as well as on the international level. Despite the comments, traders\u2019 short-term outlook<\/strong> for<\/strong> crude<\/strong> appears<\/strong> to broadcast bullish undertones<\/strong> for the time being.<\/p>\n

Crude oil inventories data record huge buildups <\/strong><\/h2>\n

Evidently this week, we observed a deviation<\/strong> from underlying fundamental<\/strong> catalysts<\/strong> of WTI<\/strong> et<\/strong> its<\/strong> prices<\/strong>, as in theory we would have expected<\/strong> oil prices to ease<\/strong>, since data from both API<\/strong> et EIA<\/strong> agencies<\/strong> reported incredulous buildups<\/strong> in their inventories<\/strong> over the past week. More specifically, on Tuesday the weekly API crude oil inventories<\/strong> figure pointed to an oversized buildup<\/strong> of 14.8 million barrels in stocks and similarly, yesterday EIA\u2019s weekly oil inventories<\/strong> recorded an even larger a buildup<\/strong> of almost 19 million barrels of crude for the same period. The results suggest weakening demand<\/strong> for<\/strong> crude<\/strong> which should have translated into weakness for WTI prices<\/strong>. The EIA\u2019s reported figure of 19 million barrels, ranks as the third largest weekly buildup ever recorded<\/strong>. A possible explanation for the unexpected reaction could be that market participants are placing more weight<\/strong> on the prospects for China\u2019s reopening<\/strong>, cancelling<\/strong> out<\/strong> in a way the expected negative reaction<\/strong> from crude stock buildups.<\/p>\n

Key US inflation data incoming<\/strong><\/h2>\n

Tomorrow, the energy traders<\/strong> will be sitting at the edge of their seats awaiting patiently for the release of the December\u2019s CPI print which is expected to provide an update on the inflationary problem<\/strong> in the US. According to estimates, the December\u2019s year on year CPI rate is expected to decelerate to 6.5% from the last month\u2019s 7.1%. Furthermore, the year-on-year Core CPI rate, which excludes volatile food and energy prices, also for the same month, is set to ease to 5.7% from the 6.0% recorded in the previous month. Should the actual rates meet the expectations, that would imply that inflationary pressures are abiding<\/strong> and may ultimately incentivize the Fed to slow down the pace<\/strong> of its interest rates hikes<\/strong>. The prospect<\/strong> for smaller<\/strong> hikes<\/strong> to come may therefore drive the dollar lower<\/strong> and could as a result boost oil<\/strong> demand<\/strong>, as it makes crude cheaper for buyers holding other currencies<\/strong>.<\/p>\n

Analyser la technique<\/h2>\n

WTI Cash H4<\/strong><\/h3>\n

\"\"<\/p>\n

Looking at WTICash<\/strong> 4-hour chart we observe oil prices finding a floor<\/strong> around the $74 per barrel during last week, which laid the ground for the subsequent rise and break of the previous 76.60 resistance<\/strong> level now turned<\/strong> (S1) support<\/strong>. We hold a bullish outlook bias<\/strong> for crude<\/strong> prices and supporting our case is the RSI indicator<\/strong> below our 4-hour chart which currently registers a value of 67, highlighting the positive sentiment surrounding the commodity<\/strong>. Adding to our case, is the break above the upper bound<\/strong> of the Bollinger band<\/strong>, signaling that the bulls are in control<\/strong>. We have to note nonetheless, that the results of the US CPI print<\/strong> due out later today, can influence the price action significantly. Should the bulls reign<\/strong>, we may see the break<\/strong> above the 80.00 (R1) resistance<\/strong> level and the price action moving higher, closer to the 83.00 (R2) resistance<\/strong> barrier<\/strong>. Should on the other hand the bears<\/strong> take<\/strong> over<\/strong>, we may see the price action fall below the 76.60 (S1) support<\/strong> level and move decisively<\/strong> lower, towards the 73.50 (S2) support<\/strong> base<\/strong>.<\/p>\n

Si vous avez des questions d'ordre g\u00e9n\u00e9ral ou des commentaires concernant cet article, veuillez envoyer un email directement \u00e0 notre \u00e9quipe de recherche \u00e0 l'adresse research_team@ironfx.com<\/a><\/p>\n

Avertissement :<\/b><\/p>\n

Ces informations ne doivent pas \u00eatre consid\u00e9r\u00e9es comme un conseil ou une recommandation d'investissement, mais uniquement comme une communication marketing.<\/p>","protected":false},"excerpt":{"rendered":"

This week, crude prices started recovering from their steep fall…<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[404,380,403],"class_list":["post-52024","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-oil-and-gas","tag-oil-market","tag-oil-price","blog-category-commodities","entry"],"acf":[],"yoast_head":"\nOil-Outlook: WTI lifted by China\u2019s reopening prospects<\/title>\n<meta name=\"description\" content=\"This report will outline the most important and recent updates from the Oil market along with our observations of WTI from a technical\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/fr\/wp-json\/wp\/v2\/posts\/52024\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WTI lifted by China\u2019s reopening prospects\" \/>\n<meta property=\"og:description\" content=\"This report will outline the most important and recent updates from the Oil market along with our observations of WTI from a technical\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-12T13:34:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-17T09:49:09+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/wti-lifted-by-chinas-reopening-prospects\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/wti-lifted-by-chinas-reopening-prospects\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"WTI lifted by China\u2019s reopening prospects\",\"datePublished\":\"2023-01-12T13:34:42+00:00\",\"dateModified\":\"2025-10-17T09:49:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/wti-lifted-by-chinas-reopening-prospects\\\/\"},\"wordCount\":939,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/#organization\"},\"keywords\":[\"oil and gas\",\"oil market\",\"oil price\"],\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"fr-FR\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/wti-lifted-by-chinas-reopening-prospects\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/wti-lifted-by-chinas-reopening-prospects\\\/\",\"name\":\"Oil-Outlook: WTI lifted by China\u2019s reopening prospects\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/#website\"},\"datePublished\":\"2023-01-12T13:34:42+00:00\",\"dateModified\":\"2025-10-17T09:49:09+00:00\",\"description\":\"This report will outline the most important and recent updates from the Oil market along with our observations of WTI from a technical\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/wti-lifted-by-chinas-reopening-prospects\\\/#breadcrumb\"},\"inLanguage\":\"fr-FR\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/wti-lifted-by-chinas-reopening-prospects\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/wti-lifted-by-chinas-reopening-prospects\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"WTI lifted by China\u2019s reopening prospects\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\""Our Introducing Brokers program offers competitive conditions tailored to our partners' needs. Become an IB and enjoy the highest market rebates."\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-FR\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/#organization\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/ironfx-forex-trading.jpg\",\"contentUrl\":\"\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/ironfx-forex-trading.jpg\",\"width\":1200,\"height\":627,\"caption\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/fr\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\",\"name\":\"IronFX Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-FR\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g\",\"caption\":\"IronFX Team\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Oil-Outlook: WTI lifted by China\u2019s reopening prospects","description":"This report will outline the most important and recent updates from the Oil market along with our observations of WTI from a technical","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ironfx.com\/fr\/wp-json\/wp\/v2\/posts\/52024\/","og_locale":"fr_FR","og_type":"article","og_title":"WTI lifted by China\u2019s reopening prospects","og_description":"This report will outline the most important and recent updates from the Oil market along with our observations of WTI from a technical","og_url":"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/","og_site_name":"Complete Turnkey Introducing Brokers (IB) Solution at IronFX","article_published_time":"2023-01-12T13:34:42+00:00","article_modified_time":"2025-10-17T09:49:09+00:00","author":"IronFX Team","twitter_card":"summary_large_image","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/#article","isPartOf":{"@id":"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/"},"author":{"name":"IronFX Team","@id":"https:\/\/www.ironfx-id.com\/fr\/#\/schema\/person\/6727476356d10030d1564b38f6e699b1"},"headline":"WTI lifted by China\u2019s reopening prospects","datePublished":"2023-01-12T13:34:42+00:00","dateModified":"2025-10-17T09:49:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/"},"wordCount":939,"publisher":{"@id":"https:\/\/www.ironfx-id.com\/fr\/#organization"},"keywords":["oil and gas","oil market","oil price"],"articleSection":["Uncategorized"],"inLanguage":"fr-FR"},{"@type":"WebPage","@id":"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/","url":"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/","name":"Oil-Outlook: WTI lifted by China\u2019s reopening prospects","isPartOf":{"@id":"https:\/\/www.ironfx-id.com\/fr\/#website"},"datePublished":"2023-01-12T13:34:42+00:00","dateModified":"2025-10-17T09:49:09+00:00","description":"This report will outline the most important and recent updates from the Oil market along with our observations of WTI from a technical","breadcrumb":{"@id":"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/#breadcrumb"},"inLanguage":"fr-FR","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.ironfx-id.com\/fr\/wti-lifted-by-chinas-reopening-prospects\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ironfx-id.com\/fr\/"},{"@type":"ListItem","position":2,"name":"WTI lifted by China\u2019s reopening prospects"}]},{"@type":"WebSite","@id":"https:\/\/www.ironfx-id.com\/fr\/#website","url":"https:\/\/www.ironfx-id.com\/fr\/","name":"Solution compl\u00e8te cl\u00e9 en main pour les courtiers remisiers (IB) chez IronFX","description":""Our Introducing Brokers program offers competitive conditions tailored to our partners' needs. Become an IB and enjoy the highest market rebates."","publisher":{"@id":"https:\/\/www.ironfx-id.com\/fr\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ironfx-id.com\/fr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-FR"},{"@type":"Organization","@id":"https:\/\/www.ironfx-id.com\/fr\/#organization","name":"Solution compl\u00e8te cl\u00e9 en main pour les courtiers remisiers (IB) chez IronFX","url":"https:\/\/www.ironfx-id.com\/fr\/","logo":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/www.ironfx-id.com\/fr\/#\/schema\/logo\/image\/","url":"\/wp-content\/uploads\/2021\/07\/ironfx-forex-trading.jpg","contentUrl":"\/wp-content\/uploads\/2021\/07\/ironfx-forex-trading.jpg","width":1200,"height":627,"caption":"Complete Turnkey Introducing Brokers (IB) Solution at IronFX"},"image":{"@id":"https:\/\/www.ironfx-id.com\/fr\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.ironfx-id.com\/fr\/#\/schema\/person\/6727476356d10030d1564b38f6e699b1","name":"IronFX Team","image":{"@type":"ImageObject","inLanguage":"fr-FR","@id":"https:\/\/secure.gravatar.com\/avatar\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/92d752eefdd58f84a80c87c45e25d421800364fdd26cd623e15031af029eebef?s=96&d=mm&r=g","caption":"IronFX Team"}}]}},"_links":{"self":[{"href":"https:\/\/www.ironfx-id.com\/fr\/wp-json\/wp\/v2\/posts\/52024","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ironfx-id.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ironfx-id.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ironfx-id.com\/fr\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ironfx-id.com\/fr\/wp-json\/wp\/v2\/comments?post=52024"}],"version-history":[{"count":0,"href":"https:\/\/www.ironfx-id.com\/fr\/wp-json\/wp\/v2\/posts\/52024\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ironfx-id.com\/fr\/wp-json\/wp\/v2\/media?parent=52024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ironfx-id.com\/fr\/wp-json\/wp\/v2\/categories?post=52024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ironfx-id.com\/fr\/wp-json\/wp\/v2\/tags?post=52024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}