Browsing Tag

IEA

Has WTI Price Peaked for the Year?

Daniel John Grady Mar 14, 2024 29 0

WTI price recently popped above the $80/bbl once again. This time it was a more convincing move that could suggest the price is solidly back to November levels. The move higher came in the wake of the US Department of Energy reporting a…
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Fundamental Analysis

OPEC Report and Press Suggest Oil Headed for $100/bbl.

Daniel John Grady Sep 14, 2023 29 0

Earlier in the week, OPEC released its monthly report, which included forecasts for next quarter's demand and supply. According to the cartel, demand in Q4 will exceed supply by over 3M bbl. That explains the recent increase in oil prices.…
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Fundamental Analysis

Latest WTI Move: Correction or Rebound?

Daniel John Grady Aug 18, 2023 65 0

The oil market has been showing some confusing signals of late, which has contributed to extra volatility over the summer. Yesterday was a microcosm of that, with a couple of surprising events. Citigroup analysts advised traders to short…
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Fundamental Analysis

Why Oil Prices Have Been All Over the Place

Daniel John Grady Jan 20, 2023 82 0

The price of crude has been on something of a roller-coaster since the start of the year. From a sudden drop in the first days of January, it climbed through the third week, only to have a hard drop a couple of days ago. Naturally there…
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Fundamental Analysis

OPEC Monthly Report: Does It Mean Crude Is Coming Down?

Daniel John Grady Aug 12, 2022 631 0

Yesterday, OPEC and the IEA provided their monthly reports on the oil industry. What got quite a bit of headlines was OPEC's forecast that crude demand would decrease during the remainder of the year. With both Brent and WTI below the…
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Technical Analysis

The Week Ahead: Gold Rallies Despite Rate Hikes

Jing Ren Apr 15, 2022 820 0

USDJPY rallies over widening rate gap The Japanese yen hit a 20-year low against the US dollar as traders buy into a hawkish Fed. Low yield currencies have been lagging behind as the US central bank ramps up monetary tightening.…
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Technical Analysis

The Week Ahead – Tactical Relief

Jing Ren Apr 1, 2022 664 0

AUDUSD awaits RBA outlook The Australian dollar consolidates recent gains ahead of the RBA meeting. The labor market is going strong with unemployment projections to hit 60-year lows later this year. Forecasts for both economic…
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Fundamental Analysis

Why Didn’t OPEC+ Raise Production Faster?

Daniel John Grady Apr 1, 2022 1,115 0

The headlines from the OPEC+ meeting yesterday were that the cartel agreed to keep its policy steady. And technically, that is true. The Organization agreed to raise production (specifically, 'ease cuts') by 400K, starting in April. This…
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Technical Analysis

The Week Ahead – Stimulus and Moderate Inflation Cause Bull Market

Jing Ren Aug 13, 2021 592 0

US 30 hits all-time high on stimulus The Dow Jones sets a new record supported by an unwavering stimulus. The passage of the trillion-dollar infrastructure bill in the US Senate is a clear message to the market that liquidity will…
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Fundamental Analysis

IEA Issues Grim Forecast for Crude Oil, But There are Short-Term Opportunities

Orbex Nov 11, 2016 327 0

The International Energy Agency (IEA) released its monthly oil market report this week on Thursday, November 10th. In its report, the agency said that Crude oil markets could continue in a surplus if OPEC fails to cut production noting that…
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