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 touch 47 during yesterday’s trading. However, both Brent and Crude recovered some of their last week’s decli...
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 managed to trade between $47 and $42, despite the fact that there were many catalysts affecting Oil demand and in...
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 has been under pressure as there were not enough fundamentals to support the prices higher. Moreover, the ma...
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 year again, some of the OPEC members noted that it's too early to talk about extending December’s deal. This...
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 extend the production cut deal, which expires in June of this year. However, these remarks were not enough, Cr...
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 one of the surprises. His speech is fairly balanced today, which was welcomed by the markets. What matter...
Abdalla Salem El-Badri, Secretary General of OPEC. Since the beginning of the year, Crude Oil prices has been trading within a sideways trend. WTI is trading between $51 and $54, while Brent is stuck between $54 and $57, New with no clear direction. This is also despite the fact of the successful OPEC deal in addition to the excessive inventor...
Crude oil futures contracts for October delivery closed at $44.85 a barrel yesterday, losing over 3.30% on the day as the US Energy and Information Administration (EIA) data showed a second consecutive week of build-up in US crude oil inventories. After inventories increased by 2.5 million barrels two weeks ago, the week ending August 26 saw a...
Monday's highlight was Germany's Ifo (compiled by the Institute for Economic Research) Business Climate Index release. This Index is measuring and rating Germany's business climate. Also, it measures the expected values for the next six months. It is basically a consolidation of approximately 7,000 survey responses from retailers, wholesalers, m...
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