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Crude Oil

Knowing the trends of prices in different commodities is key, because they are used to produce many final products that we use in our daily lives. Some commodities are leading indicators which measure the economy’s health.
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Crude Oil Prices Dive Even as OPEC Cuts

crude oil prices analysis

Yesterday was an important day for crude oil traders, who have been waiting for OPEC to extend the production cuts in an effort to stabilize crude oil prices, whose recovery from below $30 a barrel still looks very fragile. OPEC countries did not disappoint and announced they have agreed to follow the output-cut deal at least […]

Why the Tumble in WTI Crude Oil Prices?

wti crude oil prices elliott wave chart

Last week, WTI crude oil prices climbed to $53.74 a barrel, maintaining the uptrend from $47.08, which began a month ago. But instead of continuing to the north this week, the market tumbled to $50.06 yesterday, momentarily sparking the debate about the oil glut and ineffective OPEC supply cuts. But oversupply has been around for over two […]

Crude Oil: A Vital Alternative Count

oil daily march 7

Crude Oil was timidly trying to recover in the beginning of March, after falling to as low as 26.03 a month earlier. Just 3 months later, in June, it nearly doubled, reaching the vicinity of 51.60 dollars a barrel. Most bears were probably feeling too enthusiastic about the downtrend, which has been in progress for about two […]