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Forex Trading, Market News & Technical Analysis

Today’s Trading Edge: Oil sinks after Libya production set to increase and concerns of a potential shale surge

Posted by WorldWideMarkets . on May 30, 2017 7:57:20 PM

Oil prices fell over 1% and back below the $50 level after Libya production came in at 780,000 barrels per day due to a technical issue, but is expected to rise to 800,000 on Tuesday.  Oil has lost its momentum after the 172nd OPEC meeting on Thursday, May 25th showed OPEC and non-OPEC producers agreed to keep output cuts at 1.8 million barrels a day for 9 more months.    

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Topics: US Crude oil, West Texas Intermediate crude oil, $OIL

Today’s Trading Edge: Oil trades higher as markets await OPEC production cut terms

Posted by WorldWideMarkets . on May 23, 2017 9:08:46 PM

 

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Topics: US Crude oil, West Texas Intermediate crude oil, $OIL

Crude Oil Rose on Expectations of Production Cuts; WTI Rallies to $50/Barrel

Posted by Chris Advincula on May 19, 2017 6:51:26 AM

(May 19 Friday) The price of oil futures rose to a month's high on market demand and expectations of further production output cuts by the major oil producing countries. Analysts are saying that Saudi Arabia and other OPEC member nations, together with Russia are expecting cuts to about 1.8 million barrels per day until the end of March 2018. U.S. producers on the other hand, are not participating on reducing oil production.

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Topics: commodities, WTI, West Texas Intermediate crude oil, BRENT OIL

Today’s Trading Edge: Oil rally continues but upside may be limited as concerns grow over strength of global economy

Posted by WorldWideMarkets . on May 15, 2017 9:01:11 PM

Oil prices rallied to start the trading week after Saudi Energy Minister Kahlid Al-Falih announced that  Russia and Saudi Arabia are both in favor of extending OPEC and non-OPEC producer deal  for 9-months to March 2018.  They anticipate the decision to be made on May 25th.  The extended oil production cuts will be on the same terms as prior deal. 

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Topics: US Crude oil, West Texas Intermediate crude oil, $OIL

Today’s Trading Edge: Oil gained over 1% as US market shows tightening and OPEC consensus grows for output cut extensions

Posted by WorldWideMarkets . on May 11, 2017 8:28:39 PM

Oil prices benefited on Thursday, after US crude stockpiles printed the largest weekly drawdown since December.  If we do not see another big build in inventories over the next month, we could see prices continue to firm up. 

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Topics: US Oil, US Crude oil, West Texas Intermediate crude oil

 

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