WTI and Brent crude oil prices fell for a second week amid growing concerns over the global economic rebound. A more aggressive Federal Reserve outlook amplified the worry following the recent series of yield curve inversions. Daily price for Brent Crude Oil is located inside Ichimoku cloud for the ranging market condition: the price is trying to break bearish triangle pattern with support level at 98.44 to below for the primary bearish ...
The price of oil pulls back from a fresh monthly high ($43.78) even though US Crude Inventories contract for six consecutive weeks, and energy prices may continue to consolidate over the coming days as the Organization of the Petroleum Exporting Countries (OPEC) gradually rollback the voluntary production cuts in response to COVID-19. more...
Americans should prepare for higher gasoline prices this summer, and higher oil prices are largely to blame. There are two major decisions in the next few months that will likely set the tone for oil markets for the rest of 2018 and into 2019. The first is President Trump’s May 12 decision about recertifying the Iran nuclear deal. The President may, at that point, decide to re-impose sanctions on Iran. There are some indications that he ...
Inventories did see a bump higher, but the jump was +0.1% while Cushing, Oklahoma inventories (the largest delivery stock in the US) fell for the sixth straight week. A cause of concern that was raised on Wednesday was a Dallas Fed Survey showing Oil executives expect supply to remain abundant relative to demand until H2 2018. There are two developments in the oil market that you should consider that could precede an aggressive move higher ...
As energy investors consider the market for 2017, they should not forget to keep track of how even small moves by OPEC, shale oil, energy service providers and renewable energy policy can impact the market. West Texas Intermediate Crude Oil: more...
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