API

Oil prices received an upside boost this week from the latest industry reporting which showed a further drawdown in US inventory levels. On Tuesday, the American Petroleum Institute reported a massive 11 million barrel drawdown in crude…

Dollar Down Ahead of FOMC Minutes The US dollar has weakened over early European trading on Wednesday as the market awaits the release of the June FOMC meeting minutes. The minutes are expected to give further insights into the likelihood…

Crude oil prices have continued to trade in the green this week despite the latest industry reporting showing increased stock levels. The weekly report from the Energy Information Administration was released yesterday. It showed that US…

Crude Stores Drop Despite API Indication of a Build The declines in crude oil came to a halt this week as, despite an early indication of a further build by the API report, Wednesday’s EIA reports showed a drawdown in US crude stocks.…

After last week’s failure to break higher in Brent and WTI, which showed a clear bearish signal on the weekly chart, both crudes declined sharply at the beginning of this week. Brent declined all the way to $50 while WTI Crude managed to…

For the past four weeks including this week’s trading so far, Crude Oil has been trading within a range of $5, whether in Brent or WTI with no clear direction. Brent Crude was in the range between $45 and $50, while West Texas Crude…

After few weeks of gains due to the shortage in the US Crude Oil inventories, in addition to some OPEC meeting remarks, Crude Oil failed to stabilize and is nearing this year’s lows once again. Since the beginning of the year, the price…

We are back to square one. The same scenario and pattern are repeating over and over. Crude Oil prices are going nowhere anytime soon. As we noted in our previous reports, especially the one last week, after the prices went green on the…

OPEC headquarters Since the beginning of this week, Crude Oil prices has been declining gradually, reaching critical technical levels. This is despite the fact that OPEC sent out few remarks to the media, speculating a possibility to…

Trump’s Speech Overview After long hours of waiting, the US President Donald J. Trump gave his speech, which was clearly the most optimistic presidential speech since the elections. Staying away from attacking countries and the media was…