Mixed report with bearish bias

US traders had clearly thought long and hard about the oil market on Thanksgiving and concluded that prices are unjustifiably high, maybe due to the rising tension between the US and China because of the Hong Kong protests. Or they might have been disappointed with the lack of real upside progress on Thursday and Friday [...]

2019-12-02T11:25:49+00:00November 28th, 2019|

Trade deal optimism persists

The last 30 minutes of trading breathed some life into an otherwise uneventful trading session yesterday. The belief in a positive trade deal continues unabated and all that was needed for a good 60 cents/bbl rally towards the close was some warm words from the US President. Donald Trump said that the US was in [...]

2019-12-02T11:16:41+00:00November 27th, 2019|

Early Christmas for oil bulls

It was only 3-4 days ago but the slump in oil prices at the beginning of the week has speedily been erased from memory. Bulls have fought back with vengeance and currently they seem to be in control of their own destiny. Yesterday’s price action suggests that speculative buying interest is being coupled with some [...]

2019-11-28T20:35:46+00:00November 22nd, 2019|

Trade talks suffer set-back

As the oil market strengthened yesterday pre-EIA, after the slump on Tuesday, the result of an old survey popped into mind. The majority of the respondents thought that a country, where illiteracy is STILL 4% should be ashamed of itself. Well over half of another group surveyed was convinced that a country, where literacy has [...]

2019-11-28T20:36:45+00:00November 21st, 2019|

Middle East is brewing again

When the market makes a relatively significant move without any obvious or tangible reason, it is always convenient to conclude that the price action was technical-driven. Probably this is what happened yesterday as both WTI and Brent shied away from last Friday’s high and ultimately finished the day in the red. It is tempting to [...]

2019-11-28T20:39:48+00:00November 19th, 2019|

Tentative bull market

What should you think when Brent and WTI settle at their highest levels for nearly two months? Or when the major US stock indices are making fresh record highs and settlements almost on a daily basis? When not only US indices but also the MSCI Global Equity Index rallies and closes at levels never seen [...]

2019-11-28T20:40:33+00:00November 18th, 2019|
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