Category: Crude Oil
The analysis published under this category are as follows.
Tuesday, July 07, 2020
Saudi Arabia Eyes Total Dominance In Oil And Gas Markets / Commodities / Crude Oil
By: OilPrice_Com
Saudi Arabia’s Energy Minister Prince Abdulaziz claimed last week that the Kingdom will be the world’s biggest hydrocarbon producer “even” in 2050.
“I can assure that Saudi Arabia will not only be the last producer, but Saudi Arabia will produce every molecule of hydrocarbon and it will put it to good use … It will be done in the most environmentally sound and safe way and the most sustainable way,” Abdulaziz said when asked about the oil market outlook in 2050 during a virtual conference convened by Saudi Arabia’s Future Investment Initiative Institute (FII-I).
Abdulaziz added that Saudi Arabia “will be the last and biggest producer of hydrocarbon even then,” referring to 2050.
Read full article... Read full article...
Saturday, June 27, 2020
Crude Oil Price Meets Key Resistance / Commodities / Crude Oil
By: Nadia_Simmons
Crude oil moved above the previous highs and at the moment of writing these words, it’s testing the upper border of the March price gap. And given the fundamental news that are reaching (and likely to reach) the market – the increasing Covid-19 cases in the U.S. and globally – it seems that black gold might not have enough strength to keep pushing higher.
Read full article... Read full article...
Tuesday, June 23, 2020
Making Sense of Crude Oil Price Narrow Trading Range / Commodities / Crude Oil
By: Nadia_Simmons
We previously wrote that while it was tempting to bet on crude oil’s prices due to their weakness, it was not a good idea from the risk to reward point of view, as black gold didn’t invalidate the breakout above the early-March high. And it was definitely a good idea not to enter a short position then either – crude oil moved higher since that time.
Read full article... Read full article...
Tuesday, June 16, 2020
Stocks Bulls Beware: A Dark Cloud Is Forming Over Oil Markets / Commodities / Crude Oil
By: OilPrice_Com
Bullish sentiment appears to have returned to the stock markets with a vengeance. In a historic rally that has taken even die-hard bulls by surprise, the S&P 500 has managed to claw back all of its 2020 losses, taking just 53 sessions for the index to fully restore the nearly $10T in value it shed in an epic bear market. The oil markets have been nearly as impressive.
After entering negative territory for the first time in history, U.S. WTI prices have briefly touched $40/bbl amid record production cuts and an uptick in global demand. Oil and gas stocks have doubled from their March 23 nadir, marking a sharp reversal from the precipitous drop that wiped out nearly two decades of gains.
Read full article... Read full article...
Wednesday, May 27, 2020
Crude Oil Cuts Get Another Saudi Boost as Oil Demand Begins to Show Signs of Life / Commodities / Crude Oil
By: The_Energy_Report
Though gasoline demand remains historically weak, commuters are beginning to head back to their offices, opting for the isolation of their personal vehicles and abandoning public transit, reports McAlinden Research.
Saudi Arabia enhanced their commitment to OPEC+ supply cuts as the Kingdom said they'd shut production of additional 1 million barrels of crude oil per day next month. Most of the OPEC+ countries have already come close to compliance with the deal that took effect this month and cuts from non-member states like Norway, Brazil, Canada, and the US are compounding the already steep curbs on production. Though gasoline demand remains historically weak, commuters are beginning to head back to their offices, opting for the isolation of their personal vehicles and abandoning public transit.
Read full article... Read full article...
Wednesday, May 20, 2020
It’s Make Or Break For the Crude Oil Bulls / Commodities / Crude Oil
By: Nadia_Simmons
Just like the precious metals market, black gold ended the previous week with a sizable upswing. The rally continued in the early Monday trading, as crude oil moved decisively above its previous April highs.
Read full article... Read full article...
Tuesday, May 19, 2020
Is Crude Oil On the Way Up Now? / Commodities / Crude Oil
By: Nadia_Simmons
Crude oil soared higher yesterday and also in today’s pre-market trading, which shows you why it was a good idea to remain cautious yesterday, even despite crude oil’s breakdown below the rising support line.
Read full article... Read full article...
Sunday, May 10, 2020
Forecasting Crude Oil: This Method Has Been the Undefeated Champion Since 1998 / Commodities / Crude Oil
By: EWI
The battle between Elliott waves and supply/demand forecasting approach continuesIn case you just landed on Earth via Martian spaceship, 2020 has seen the biggest crash in oil prices ever.
This chart captures crude's three-month, 80%-plus nosedive to 3-decade lows. (Price data as of May 1, 2020 and does not reflect the unprecedented April 20 plunge into negative territory at -$40.32. Yes, minus $40.32).
Saturday, May 09, 2020
Silver Offers A Great Opportunity / Commodities / Crude Oil
By: Hubert_Moolman
The stock market has had a great run during the last decade. It has made some people a good stack of money.
However, the March crash has many wondering what it will do next. Will it continue to crash, or will it continue the bull market?
Is it really worth spending time and effort contemplating its next move? I think not.
The market is currently presenting a great opportunity to lock in those stock market profits, and then even growing it much more.
Read full article... Read full article...
Thursday, May 07, 2020
Light Crude oil prices have bottomed and starting to rise / Commodities / Crude Oil
By: Donald_W_Dony
Light Crude oil prices have dropped an alarming 68 percent since the start of 2020. Brent prices are down 60 percent over the last four months. But recent price action appears to show that the worst of oil's decline is likely over.
As the world economies are still being mauled by the effects of COVID-19, there are growing signs that oil prices are starting to recover.
Read full article... Read full article...
Saturday, May 02, 2020
Crude Oil Prices Go NEGATIVE! What's Next? / Commodities / Crude Oil
By: Nadeem_Walayat
Negative oil prices is another corona consequences that no one saw coming. A 30% drop in world oil demand due to the corona lockdown's resulting in demand falling to 70m barrels per day, whilst the producers are pumping out over 90mbd meant that storage faculties had become saturated, thus nowhere to transport new supply to.
Read full article... Read full article...
Sunday, April 26, 2020
What’s Next for Crude Oil Price? / Commodities / Crude Oil
By: Nadia_Simmons
From the unimaginable lows, crude oil is shaking off the dust. Moving higher, can it rise like a phoenix?
Before moving to the technical part of today’s analysis, it seems that a quote from yesterday’s Oil Trading Alert would be appropriate:
Crude oil was just trading below 0. Well, not completely, but the nearest futures contract was trading below 0 for the first time ever.
In case you missed it, here’s the screenshot from finance.yahoo.com and yesterday’s price quote as it was falling.
Read full article... Read full article...
Tuesday, April 07, 2020
Crude Oil's 2020 Crash: See What Helped (Some) Traders Pivot Just in Time / Commodities / Crude Oil
By: EWI
The coronavirus wasn't the cause of oil's 70% collapse. This was
Let's start by establishing that the stock market is not driven by the news. Aggregate stock prices are driven by waves of optimism and pessimism -- which go from one extreme to another -- as reflected by the Elliott wave model. That's what makes the stock market predictable.
Hence, Elliott wave analysis is at the core of EWI's stock market forecasts.
Having said that, sentiment indicators are also valuable in providing clues about "what's next."
Read full article... Read full article...
Friday, March 13, 2020
What's Next for Crude Oil Price Trend Forecast / Commodities / Crude Oil
By: Chris_Vermeulen
When it comes to our Adaptive Dynamic Learning (ADL) predictive modeling system, we get asked questions from our friends and followers about how it could predict a virus event or how it could predict a price event so far out into the future. The truth of the matter is the ADL predictive modeling system doesn’t predict unknown virus, banking or other types of events.
What it does do, quite well we might add, is identify historically accurate price events (almost like unique DNA markers) and attempts to identify future price events that align with recent price bar (DNA) setups. In other words, it maps the markets highest probability outcomes by studying past price activity and using a unique DNA-like mapping system. Once this analysis is complete for any chart, we can ask it what is likely to happen in the future.
Read full article... Read full article...
Thursday, February 27, 2020
Oil Price Is Now More Volatile Than Bitcoin / Commodities / Crude Oil
By: OilPrice_Com
You know that the oil markets have truly gone to the dogs when they are suddenly riskier than one of the world’s most volatile commodities: bitcoin.
Bitcoin and most cryptocurrencies are synonymous with extreme bouts of volatility. However, it’s crude oil that is now earning that dubious distinction after exhibiting price swings wilder than even the leading cryptocurrency.
On February 10, West Texas Intermediate (WTI) oil’s one-month realized, or historical, price volatility stood at 105.3%. In contrast, bitcoin's historical volatility clocked in at 42.3%, its lowest reading since September, according to Skew Markets.
Read full article... Read full article...
Thursday, February 20, 2020
Is Crude Oil Firmly on the Upswing Now? / Commodities / Crude Oil
By: Nadia_Simmons
It appeared that the bears firmly took the reins of yesterday’s session, but most of their gains were history before the closing bell. Have we seen an important turning point for oil?
Let’s start with the daily chart examination (charts courtesy of http://stockcharts.com and http://stooq.com ).
Crude oil opened yesterday’s session with the green bullish gap that’s slightly below the 61.8% Fibonacci retracement. Although the bulls took the commodity a bit higher after the market open, this strong resistance encouraged the sellers to act.
Read full article... Read full article...
Thursday, February 13, 2020
Crude Oil Price Action – Like a Coiled Spring Already? / Commodities / Crude Oil
By: Nadia_Simmons
Trading slightly above the $50 mark, crude oil hasn’t made a decisive move either way so far. Yesterday’s bullish session has brought us new clues. Let’s dive and examine the strength of the evolving oil move higher.
We’ll start by taking a closer look at the daily chart (charts courtesy of http://stockcharts.com).
Read full article... Read full article...
Sunday, January 26, 2020
The "Twin Threats" Facing Big Oil / Commodities / Crude Oil
By: OilPrice_Com
The global oil and gas industry is facing the "twin threats" of the loss of profitability and the loss of social acceptability as the climate crisis continues to worsen. The industry is not adequately responding to either of those threats, according to a new report from the International Energy Agency (IEA).
"Oil and gas companies have been proficient at delivering the fuels that form the bedrock of today's energy system; the question that they now face is whether they can help deliver climate solutions," the IEA said.
Read full article... Read full article...
Wednesday, January 08, 2020
The All-Out View of Crude Oil’s Spike / Commodities / Crude Oil
By: Nadia_Simmons
Let’s put the geopolitical gyrations in oil into a proper perspective by taking a look at the monthly chart. The overall situation hasn’t changed much as crude oil is still trading inside the blue consolidation below three very important resistances (the red and orange bearish gaps and the 61.8% Fibonacci retracement), which form the key resistance zone for the coming week(s).
Read full article... Read full article...
Tuesday, January 07, 2020
Crude Oil Price Reverses Lower Again After US Missile Attack / Commodities / Crude Oil
By: Chris_Vermeulen
Normally, after tensions between Iran/Iraq and the US flare-up, Oil and Gold rally quite extensively but reversed sharply lower by the end of the session.
Yes, Gold is 1% higher today and was up over $35 overnight, but Crude Oil has actually moved lower today which is a fairly strong indication that disruptions in oil supply from the Middle East are not as concerning as they were 10+ years ago. Traders and investors don’t believe this isolated targeted missile attack will result in any extended aggression between the US and Iran.
When past conflicts in the Middle East happened, Oil would typically rally and Gold would spike higher as well. Consider this a reflex action to uncertain oil supply issues and concerns that global market uncertainty could crash the markets. Gold seems like an easy expectation related to this type of uncertainty as it continues to act as a hedge against many risks like missiles/war, financial uncertainties etc…
Read full article... Read full article...