IEA Warns of 'Lost Period' in Global Oil Demand

The price closed at 104.70, up 2.28% in the last 24 hours, but remains below the 20-day moving average (107.11) and RSI at 44 indicates weak momentum. MACD remains below the signal line (0.81 vs 1.40), showing a negative outlook. The news could trigger selling pressure in the short term, but the 50-day average (103.50) may act as support. Nevertheless, supply-side developments or geopolitical risks could limit this effect; therefore, I foresee a downward trend rather than a definite decline.

The IEA's warning of a 'lost period' in global oil demand can be read as a downward signal for the medium-term demand outlook. Although the price has risen by 2.58% in the last 24 hours to 99.96, this move may be a short-term reaction. The RSI is at 45.5, in neutral territory, and below the MACD signal line (0.86 vs 1.38), indicating weakening momentum. The price is below the SMA20 (101.93) but above the SMA50 (98.43); this mixed picture suggests that the impact of the news may be limited. Nevertheless, demand concerns could create selling pressure in the short term, so I expect a downward trend in the 1-3 day view.

However, the stock has risen 3.25% in the last 24 hours and RSI at 63.5 is approaching overbought territory, increasing the risk of a pullback. MACD is positive and the price is above SMA20 and SMA50, so the technical picture is not yet deteriorated. The impact of the news may be limited because the market may have already priced in supply-side news. Nevertheless, demand concerns could create selling pressure in the short term; I expect a slight downward trend for 1-3 days.

The IEA's warning of a 'lost period' in global oil demand could create downward pressure on crude oil prices and energy stocks in the medium term. CVX closed at 212.76, up 1.96% in the last 24 hours, with RSI at 54.5 in neutral territory; however, MACD is below its signal line (0.79 vs 0.89), giving a weak momentum signal. The price is trading just above the SMA20 and SMA50, which could serve as support in the short term. The impact of the news may be limited as demand concerns may already be priced in across the market. Nevertheless, negative news flow and weak MACD increase downside risk in the 1-3 day horizon.