Crude Oil Articles
Crude Oil Price Crash on Lockdowns, More Downside is Ahead
The crude oil price fell to the lowest level since May as the widening lockdowns across the European region have dented the oil demand outlook. The price fell almost 9% since the beginning of this month, with futures are currently trading around $37 a barrel while WTI futures dipped to the $34 a barrel level on Monday.
Crude Oil Forming Bearish Wedge Targeting 34.40
Oil has been sold down quite hard from August highs giving back 17% in 13 trading days. Wedge patterns are generally a sign of trend continuation when broken to the downside, and when found within bearish oil trend momentum, can become a potent pattern for lower lows. Key Points:…
USD/CAD Next Drop Presents Value at 1.31500
Friday’s economic data showcased US inflation back on track at 1.3% YoY, but slightly weaker on the month at 0.4%. (Previous month 0.6%). For the USD/CAD, we could see a short term drop to 1.31500 before the next rise as the Canadian dollar looks to shadow the Oil drop. Key…
Tech Shares Recover Slightly and Vaccine Failure? – US Trading Session
US equity bourses stage a slight recovery following a short period of heavy selling AstraZeneca vaccine trails have been abruptly paused amid a concerning reaction from a UK test patient WTI crude oil has managed to stay above $36 support
Crude Oil Slips , DXY Gains, Gold Under Pressure – Ahead of European Trading Session
Asian markets open with continued weakness for a second consecutive session. Oil falls more than 1% on Saudi price cuts , but China imports remain strong. Chinese and US equity bourses in the red along with Japan's Nikkei index.
Crude Oil – Superior Reward to Risk Ratio
US OIL – $41.20 became a huge level for crude in March when it experienced a 25% drop to $30.78. Since March, the oil price tested $41.20 on three occasions but failed to break through and hold. In July it finally pierced through and held above with now sighting levels…
Are Oil Companies A Force For Good or Ill?
Recognising the uses of Oil The reality is that oil is used for many day-to-day products outside of the typical gasoline/fuel resource, playing a key role in cosmetics, plastics, candle wax and rubber products. Oil companies therefore play a pivotal role in the upstream, midstream and downstream processes that enable…
Dollar Continues To Slide Further With Gold Firm Above $2,000 – US Trading Session Update
Gold broke above the $2,000 handle, with prices reaching a session high of $2,055. This has mostly been contributed towards continued dollar weakness, with the dollar index (DXY) sliding towards 92.50, a further fall here could see a free fall towards 92.00.
Markets Enter August With Risk Appetite – US Trading Session Update
The dollar index has staged a retracement , up +0.41%. This is likely a technical correction supplemented with positive manufacturing data after weeks of heavy selling. According to ING, the 94.50 level will be a difficult level for the index to clear.