forex trade oil

Crude oil prices were higher this week as the latest data from the Energy Information Administration showed that US crude oil inventories fell for a fifth week last week, dropping 2.1 million barrels to 394.1 million barrels per day for the week ending September 14th.  Crude stockpiles are now back down to levels not seen since February 2015. Ho...

2018-09-20 James Harte Read more
crude oil

Following strong sales over the prior week, crude oil prices were higher this week in response to the latest data from the Energy Information Administration showing that US crude oil inventories declined by 5.3 million barrels. [shortcode-variables slug="act_tradeideas"] Breakdown of the data for the week ending September 7th US crude...

2018-09-13 James Harte Read more
forex crude oil

OPEC reports lower production from Saudi Arabia Th USA imposes fresh sanctions on Iran, threatens nations still trading with Iran Weekly crude oil inventories report a build up EIA revises down U.S. oil production for 2018 Oil prices were seen trading mixed during the week amid a mixed fundamental outlook. While the core fundamen...

2018-08-16 John Benjamin Read more
opec meeting

All eyes were on Vienna last week as the OPEC nations and Russia met over two days for the semi-annual OPEC meeting. The main focus of the meeting was whether the OPEC nations and Russia could agree to reaching a deal to plug the void left by Iran. Iran was cut off from the Oil markets following the U.S. Trump administration pulling out of th...

2018-06-27 John Benjamin Read more
forex intradays analysis

Daily Forex Market Preview, 25/06/2018 Economic data on Friday was mixed but the U.S. dollar was seen giving up some of the gains made from earlier in the week. Japan's national core CPI data showed a 0.7% increase on the year, unchanged from the month before. In the Eurozone, the preliminary manufacturing and services PMI data showed a some...

2018-06-25 John Benjamin Read more

Fundamental Analysis & Overview OPEC, the cartel of petroleum exporting nations, are holding meetings today, the 22nd of June 2018. This meeting is held as usual in Vienna and it will most likely have a direct impact on the price of crude oil. The United Arab Emirates oil minister, who is also the President of OPEC, stated recently th...

2018-06-22 Richard Tataru Read more

Daily Forex Market Preview, 22/06/2018 The Bank of England’s monetary policy meeting held yesterday saw officials keeping interest rates steady at 0.50% as widely expected. However, this came amid three dissenting votes including that of the BoE’s chief economist, Andrew Haldane. The central bank also signaled that it would begin to unwind...

2018-06-22 John Benjamin Read more
opec meeting

The upcoming OPEC meeting this week has taken on a great deal of focus given recent developments. Last week Russian and Saudi Arabian leaders met alongside the opening game of the World Cup to discuss plans to increase oil production while maintaining the petro-alliance forged in 2016. The proposals are centred around forming an OPEC+ group that...

2018-06-22 James Harte Read more

While most of the world was concentrating on the football last night, with Saudi Arabia and Russia opening the 2018 world cup tournament, the two countries were also meeting for another important reason. Alongside the sports, President of Russia, Vladimir Putin, met with Saudi Arabian Crown Prince, Mohammad Bin Salman, for talks aimed at boostin...

2018-06-15 James Harte Read more
Oil prices rise on US withdrawal from Iran

Crude oil prices rallied last week to hit a three and a half year high after the U.S. President Donald Trump announced that Washington was pulling out of the 2015 Iran nuclear deal on Tuesday. Speaking at a brief press conference, Trump said that the U.S. administration will also be imposing more strict economic sanctions on the country. It g...

2018-05-16 John Benjamin Read more