oil

Forex News – How much geopolitical risk do developments in Iraq represent?

Posted on June 16, 2014 at 9:42 am GMT

The news that the Sunni islamist insurgents of the Islamic State of Iraq and the Levant (ISIL) managed to capture Iraq’s second largest city, Mosul, sent shockwaves throughout the world and raised the specter of a protracted conflict that could further destabilize the region and potentially lead to disruptions in oil supplies. Such a conflict may also dissuade investment into the oil infrastructure of Iraq and its reserves may stay unexploited underground for longer. Iraq is the 6th largest oil [..]

Asian Session – Geopolitical concerns drive yen, oil and gold higher

Posted on June 16, 2014 at 6:46 am GMT

Higher geopolitical risk was a worry for markets following the weekend, as investors unloaded some equities and fled to the safety of the yen. The yen pushed the euro under the key 138 level to 137.85, while the dollar was also pushed below the 102 level to trade at 101.76. The euro firmed slightly against the dollar at 1.3546 as traders awaited the final Eurozone inflation estimate for May later in the day. In Iraq, forces of the Sunni Islamic [..]

Technical Analysis – OIL Daily: Oil climbs to 3-month, ready to challenge resistance at 105.20

Posted on June 10, 2014 at 10:22 am GMT

[caption id="attachment_17448" align="alignnone" width="555"] (click to enlarge)[/caption] A significant up move occurred in the oil market on June 9, driving the commodity to fresh 3-month highs. Signs that economic growth is holding up in the world’s two largest economies – the US and China – are said to be driving the gains. West Texas Intermediate (WTI) oil climbed to 104.63 on Tuesday, 10 June, which represents the highest since March 4. Tensions in Ukraine was what drove the oil price [..]

Technical Analysis – Crude oil bullish at 5-month high

Posted on March 3, 2014 at 9:05 am GMT

Crude oil hit a 5-month high early on Monday as geopolitical tensions between Russia and Ukraine escalated. Threats of sanctions on Russia could disrupt supplies to Europe which receives a third of its supply from there. Oil prices opened on Monday with a gap higher at 103.14 compared to Friday’s close of 102.65 and hit a high of 104.63, the highest since September 22. Prices have been rallying since January 14 and have been contained in a rising channel since [..]

Technical Analysis – Oil, 4-hourly: holding above the 7-month low of 91.20

Posted on January 13, 2014 at 9:42 am GMT

[caption id="attachment_12463" align="alignnone" width="550"] (click to enlarge)[/caption] Oil has been dropping recently on expectations that the deal between Iran and six major powers will lead to increased supply of Iranian oil to the markets. Oil for short-term delivery fell to 91.24 on Thursday 9th January, which is a 7-month low. It should be pointed out however that the break was not convincing as there was not enough follow-through selling near an area that has also been tested 2 ½ months [..]

Technical Analysis – OIL FEB 14, 4-Hourly: December uptrend seen pushing to resistance retest

Posted on December 17, 2013 at 10:06 am GMT

[caption id="attachment_12067" align="alignnone" width="550"] (click to enlarge)[/caption] Following range-bound trading during November, light sweet oil for February 2014 delivery broke through the 95.60 level during a powerful upmove on December 3-4. The momentum from that move led to a 1 ½ month high at 98.74, where it found resistance. 98.74 is the target any rally continuation would like to retest. The subsequent pullback led to the formation of a low at 96.25, from which there was a rebound. Indeed between [..]

Commodities News – Oil declines from 4-mth high on falling demand

Posted on January 21, 2013 at 12:46 pm GMT

Oil prices are trading lower in Monday, down from a four-month high last Thursday. The CFD for crude is down to $95.50 in the Europe session today, trading sideways since its decline from Thursday’s high of $96.48. Meanwhile the crude oil contract for February delivery, which expires tomorrow, fell as much as 51 cents to $95.05 a barrel in electronic trading on the NYMEX and was at $95.07 at 9 a.m. London time. The March contract was down 46 cents [..]

Commodities – Crude oil jumps on Mid-East tensions

Posted on November 19, 2012 at 9:02 pm GMT

Crude oil prices jumped around 3 percent on Monday, rallying to the highest price since mid-October due to worries of supply shortage as violence escalates in the Middle East escalated. The Israeli-Palestinian tensions began on Wednesday last week and have grown to a full blown conflict. Israel bombed dozens of targets in the Gaza Strip on Monday and said that while it was prepared to step up its offensive by sending in troops, it preferred a diplomatic solution that would [..]

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