All Articles Tagged - WTI

How long will OPEC continue to forfeit market share to the US? – Commodity News

Posted on March 15, 2018 at 2:08 pm GMT

While OPEC and its allies have been restricting their output in order to rebalance the oil market, other major producers like the US have taken the opportunity to increase their own production. If this pattern continues, OPEC would likely see a substantial chunk of its market share taken over by the US. The last time this occurred back in 2014, OPEC “fought back”, flooding the market with oil to defend its share of the pie. Is history about to repeat [..]

Technical Analysis – WTI crude oil futures post neutral sessions; Bollinger bands act like obstacles

Posted on March 13, 2018 at 9:28 am GMT

WTI crude oil futures have been moving sideways over the last few sessions in the 4-hour chart, signaling weak momentum. The price hit several times the 20-simple moving average but failed to trade lower. Having a look at the bigger picture, oil has lost its aggressive buying interest but remains in bullish territory. In the 4-hour chart, the RSI indicator is flattening slightly below the 50 level, while the stochastic oscillator posted a bullish crossover within its moving averages above the 20 level. It is worth mentioning that [..]

Oil prices may be in for more pain as US production soars – Commodity News

Posted on February 22, 2018 at 3:03 pm GMT

Oil prices tumbled in February, erasing the gains they posted earlier in the year, amid signs of surging US production and the broader stock market unrest. The precious liquid has stabilized somewhat in recent days, but given that the increase in US output shows no signs of abating, this may simply be a reprieve before the next leg lower. While the year began with oil bulls cheering, as a falling US dollar, strong compliance with the OPEC-led supply cuts and [..]

US Open Preview – European stocks join the rout; RBA policy decision next

Posted on February 5, 2018 at 12:33 pm GMT

Here are the latest developments in global markets: FOREX: The dollar index was little changed on Monday, last trading near the 89.10 level. Sterling/dollar was down more than 0.2%, pressured by the softer-than-anticipated UK services PMI for January. Dollar/yen fell nearly 0.3%, as the broader risk-off sentiment in equity markets strengthened the yen, which is typically regarded as a safe haven. Elsewhere, the aussie was 0.2% higher against the greenback ahead of the RBA’s policy decision, due at 0330 GMT on [..]

Are oil prices at risk of a “long squeeze”? – Commodity News

Posted on January 31, 2018 at 3:34 pm GMT

Oil prices have had a good run so far in 2018. WTI rallied 6.5% in just the first month of the year, boosted by a softer US dollar and declining crude inventories in the US. However, recent developments suggest that the positive sentiment surrounding the energy market may be on thin ice right now, and a near-term correction should not be ruled out. Oil is traded in US dollars. This implies that when the greenback depreciates, oil becomes more attractive [..]

Special Report – Oil makes a comeback, but will it last?

Posted on January 12, 2018 at 3:35 pm GMT

Oil prices rallied in 2017, with WTI finishing the year more than 12% higher as major OPEC and non-OPEC producers continued their efforts to rebalance the oil market by curbing their supply. Can this pattern persist in 2018, or will US shale producers ramp up their production in the face of higher prices, and take the wind out of the precious liquid’s sails? The oil market came closer to rebalancing itself in 2017, as a strengthening global economy fueled demand, [..]

Forex Market Review (European Session) – Dollar tumbles on disappointing inflation; Kuwait’s OPEC governor boosts oil

Posted on July 14, 2017 at 2:51 pm GMT

The dollar tumbled against all majors after a set of disappointing US data releases. The dollar index fell to a fresh 10-month low of 95.25 immediately following the release. The weaker dollar boosted other majors as well as gold. Both US CPI and retail sales numbers for June came in short of expectations, pushing the dollar to 112.38 yen from 113.04. Headline CPI was weaker than estimated at 0.1% month-on-month in June, mirroring the prior increase of 0.1%. It was [..]

European Session – Dollar sees some pressure as FOMC meeting gets underway

Posted on December 13, 2016 at 3:45 pm GMT

Market jitters over Fed policy pushed the US dollar down to the 115 yen level in Tuesday’s European session as the FOMC begins its 2-day meeting. The greenback slipped to 114.96 yen before rebounding back above 115 as investors grew nervous over the outlook for future Fed policy, while an expected rate hike of 25bps in the fed funds rate has been almost fully priced in by the futures market. The Federal Open Market Committee will publish its latest quarterly [..]

Forex News – Oil jumps 5% after first non-OPEC cut since 2001

Posted on December 12, 2016 at 4:42 pm GMT

Crude oil prices surged to 17-month highs on Monday after non-OPEC countries reached an agreement with OPEC members to cut oil output on Saturday. The deal is the first joint coordination between OPEC and non-OPEC states since 2001 and involves cutting output by 1.758 million barrels per day. It becomes effective as of January 1, 2017. OPEC members had already agreed on November 30 to cut the bloc’s output by 1.2 million bpd for the first time since 2008. It followed [..]

Technical Analysis – Commodities summer consolidation extends into September

Posted on September 20, 2016 at 12:39 pm GMT

Despite some large daily moves, commodities have largely stuck to a range during most of the summer as the big rally of the first half of the year has stalled. Among the major commodities, oil has been unable to surpass its June peak, while gold remains one of the most bullish even though it’s been in steady retreat since its July peak. Oil stuck in bearish mode WTI oil futures have been making lower highs since the January-June uptrend was [..]

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