Oil In Focus As OPEC Meeting Looms Large
After months of uncertainty and speculation you would think there will be some clarity about the crude oil situation just days ahead of Wednesday’s OPEC meeting. Well, you would be wrong. In fact, very wrong.
OPEC
USDCAD Defends 1.34 As Oil Falls, Canadian Data Disappoints
It has been a relatively quiet day in the markets due in part to the lack of any major economic news. The US economic calendar in particular will be rather light this week due to Thanksgiving on Thursday.
Oil Demand Likely To Fall In 2017 As Prices Struggle
Crude oil, like many other commodities and markets are present, continues to remain rangebound with the bullish momentum of earlier in the month now waning.
Oil Higher Ahead Of OPEC Decision
Crude prices jumped in reaction to the latest weekly US crude stockpiles data but then quickly went into reverse gear, before bounce back once again.
Saudi Oil Output Offer Report Lifts Brent For Fourth Day
Ahead of next week’s talks in Algeria, Reuters reported this morning that Saudi Arabia is apparently willing to reduce its oil output for as long as Iran agrees to freeze its production at current levels.
Crude Oil Struggles To Shake Off Oversupply Concerns
Oil prices have been extremely volatile of late, without making any significant progress in either direction. The long and short of it is that the stream of mostly negative news has helped to halt the recent rally, while ahead of this month’s informal meeting of the OPEC in Algeria not many people will want to be betting boldly on an oil price plunge. Therefore consolidation is the dominant theme in
Crude Turns Positive Ahead Of Oil Data
Oil prices swung wildly into the positive territory yesterday. The rally eventually came to a halt around the $50 handle for Brent and $48 for WTI, and both contracts have been trending lower from these levels until an hour or so ago.
Oil Prices Continue To Tip Toe Higher
For longer term traders and investors in oil, as we come to the end of another month with the latest weekly oil inventories now posted, it is once again the weekly and monthly charts that provide insight and context for the future trends.
Oil Takes Out One Level, And Now Looks To The Next!
When considering such as bearish chart as for crude oil, it’s interesting to play a mind game and consider it as perhaps a stock chart – an Enron or a Worldcom, and the prospect of oil going to zero.
Not A Happy New Year For WTI
For oil prices, the new year could hardly be described as happy, as the relentless decline in prices continues, with December’s pause now starting to fracture, as February’s WTI contract picks up downside momentum.