Algeria Begins Construction of Trans-Saharan Pipeline for Gas Supply to Europe
📊 BRENT — Piyasa Yorumu
▼ down · 60%Brent crude is trading at $94.65, losing 1.8% in the last 24 hours. The RSI at 37.8 is approaching oversold territory, while the MACD remains below the signal line in negative territory. Pricing below the short-term SMA20 (95.14) and SMA50 (96.33) averages presents a technically weak outlook. Algeria's decision to build a new gas pipeline to Europe could increase energy supply security, putting downward pressure on oil prices. However, the low RSI levels also suggest the possibility of a short-term recovery.
📊 NATGAS — Piyasa Yorumu
■ neutral · 40%While the news represents a development that could increase gas supply to Europe in the long term, the short-term market impact will be limited as pipeline construction will take years to complete. Technical indicators are sending mixed signals: RSI at 45 is in neutral territory, MACD is below the signal line but near zero, and the price is trapped between the 20- and 50-day moving averages. Therefore, no clear direction is expected in the near term.
📊 SHEL — Piyasa Yorumu
▲ up · 60%The news points to a development that could strengthen SHEL's position in the European gas market. Technical indicators show that while the RSI is in neutral territory (54.3) and the MACD is below the signal line, the price trading near the 20-day moving average offers short-term upside potential. However, the upside expectation may be limited as the pipeline construction is a long-term project with no immediate impact. The 1.7% increase in the last close indicates a positive market reaction to the news. Overall, a slight upward trend can be expected in the short term.
📊 BP — Piyasa Yorumu
▲ up · 60%The news points to a positive development that could increase the value of BP's natural gas assets in Algeria. Technical indicators support this view: the RSI at 63 is not yet in overbought territory, the MACD is above its signal line, and the price is trading above both the 20-day and 50-day moving averages. The 2.3% rise in the last 24 hours suggests momentum could continue. However, upside potential may be limited due to the early stage of pipeline construction and geopolitical risks.