Crude oil price remains under pressure in European morning on stock markets’ decline and USD’s rebound. As recent price rallies have brought risky assets’ valuations to stretched levels, investors have become extremely…
Tag: Oil
Risk Aversion Returns amid Trade Protectionism
Crude oil price extends last Friday’s weakness and slides to 68.5 in Asia Monday as driven by decline stock markets and rebound in USD. Recent rallies in commodity and stock markets have…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil’s corrective rebound from 67.05 should have completed at 72.9 already. Intraday bias remains mildly on the downside for 67.05 support first. Break will confirm that whole…
Crude Oil Weekly Technical Outlook
Nymex Crude Oil (CL) Crude oil’s recovery was limited at 72.90 last week and reversed to fall sharply on Friday. Break of 68.96 minor support indicates that such recovery is merely a…
Weekly Fundamental Outlook for Energies and Metals – Consolidation in Crude Oil will Continue in Coming Months
Commodity prices rose modestly last week amid weakness in USD. Reuters/Jefferies CRB Index added +1.4% while USD Index plunged almost -2% to 76.6, the lowest close in a year. Commodities normally trade…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil is still consolidating in tight range and with 4 hours MACD staying below signal line, intraday bias remains neutral for the moment. But after all, further…
Weakness in Dollar Spurred Demand for Commodities
Although the US inventory report triggered selloff in crude oil price to as low as 70.86, decline in USD boosted demand for commodities again in afternoon session. The WTI October contract added…
Crude Remains Supported as IEA Raised Demand Forecasts
Crude oil price remains strong in European morning. The International Energy Agency (IEA) raised its forecast on oil demand, as indicated in the September report. The October contract hovers around 72 as…
OPEC Continues to ‘Wait & See’, Satisfied with Current Price Level
Crude oil price rose to as high as 72.52 Wednesday as driven by advance in stock markets amid the Fed Beige Book showed improved economic conditions. The benchmark contract ended the day…
Crude Oil Daily Technical Outlook
Nymex Crude Oil (CL) Crude oil turns sideway after rebound to 72.52 and some sideway trading might be seen. But after all, further rise is still expected as long as 68.96 support…