Crude oil prices showed no signs of losing momentum as price of the international Brent crude oil hit highs of $75 a barrel. The gains, which mark the highest high in nearly three and a half years, came about after mounting concerns that the U.S. administration could hit Iran with sanctions. Reports suggest that the U.S. administration will d...

2018-05-03 John Benjamin Read more
OPEC agrees to production cut

Last week, Crude Oil tumbled despite the huge decline in the US Crude Oil Inventories, which posted the biggest weekly decline since September of last year. Crude Oil prices ignored these figures and continued to decline further. Brent touched $50, and WTI slid to 46.50’s. Some OPEC reports came out, and that led to a notable rally. Brent close...

2017-08-23 Nour Eldeen Al-Hammoury Read more
OPEC_Crude Oil

Crude Oil managed to recover from June’s lows all the way to today’s high, supported by some OPEC and Non-OPEC members remarks, in addition to some inventories data. Despite all the talk about the production cut deal, there is something not right here, and it looks like there is someone is cheating, whether from OPEC or Non-OPEC members. OPEC ...

2017-07-26 Nour Eldeen Al-Hammoury Read more
Crude Oil_1703

Crude Oil prices tumbled last week on many factors, which put Oil prices at risk of further declines ahead, as there is no new catalyst to support the uptrend anymore. Technical Factors Looking at the chart of Brent and WTI Crude Oil, we can see that it managed to trade within a tight range since the beginning of this year, well below key r...

2017-03-17 Nour Eldeen Al-Hammoury Read more
Crude Oil

Since the beginning of the year, OPEC managed to increase the hopes for a possible freeze in its oil production and/or cutting the production. However, it's November and there has been no deal or an official decision. Since January Crude Oil prices recovered by more than 50%. Brent recovered from this year’s lows at $27.10 all the way to $53.73 ...

2016-11-04 Nour Eldeen Al-Hammoury Read more
Durable Goods Orders

After a lack of fundamentals and low trading volume in Europe today, all eyes turns to the US again. Traders will be awaiting two major events, including Durable Goods Orders and the testimony of the Federal Reserve Chair Janet Yellen. Definitions Durable Goods Orders: this indicator measures the change in the total value of new purchase orde...

2016-09-28 Nour Eldeen Al-Hammoury Read more