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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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 […]
The price of WTI crude oil plunged from $53.74 to as low as $43.73 between April 12th and May 5th. This 10-dollar sell-off surely made the bears feel almighty, but instead of accelerating to the south, oil prices bounced up to close the week at $46.46. Before the market open the next Monday, May 8th, […]
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 […]
It recently became clear that OPEC members have not been following their own output cut agreement very strictly, which could be an explanation of WTI crude oil’s sharp decline to $47.03 by March 22nd. But despite the continuing supply glut, the price of oil today is higher than $50.30 a barrel, following a sharp recovery from […]
“The current pullback is likely to take crude oil prices down to $50.50, before the bulls return…” This was the last sentence of the premium crude oil analysis we sent to clients five days ago, before the markets opened on Monday, January 9th. Crude oil closed at $53.68 on Friday, January 6th, after a recovery […]
The last three weeks have been very interesting for the oil market. First it was Vienna, where OPEC members agreed to cut production by more than a million barrels a day. In response, the price of crude rose sharply to as high as $52.39 by December 5th. Then the bulls took a rest, which allowed […]
Crude oil’s December futures contract just climbed to 47.37 dollars a barrel in what is supposed to be a rally, inspired by hopes that OPEC members are going to agree to cut production in an attempt to lift oil prices. The market is probably the only place, where such an irrational thing as “hope” could have […]
Copper has been making the headlines recently after it left the consolidation area it was locked in and jumped to as high as 2.4589 as of today. Usually, when people see that something is rising in price, they rush to buy it. This has never been our way of doing things. In order to put […]
The price of crude oil recently climbed to 52.20 dollars a barrel, but has been declining ever since. Currently, the black gold is trading around $49.40 after declining to as low as $48.85 earlier this week. Apparently, anticipating the future is not an easy task. It remains unknown, no matter how accurate your forecasting method […]
The price of crude oil initially rose to $44.68 on Monday, but then the bears took over again, which led to a decline to $43.05. But instead of continuing to the south, oil rebounded sharply up and is currently trading above the $46 mark. You might even think that the price is deliberately moving up […]
It was a roller-coaster week for crude oil prices. The market moved sharply up on Monday, September 5th, climbing to 46.51 during the European session. Then is suddenly fell back to 43.82. And just when it looked like the downtrend has resumed, the bulls returned to take oil to 47.72 on Thursday, September 8th. These […]
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 […]
Last week, the price of crude oil fell to 43.02. This week, it seems determined to reach the 50-dollar mark. From surplus, through production cuts to supply shortages, it might seem impossible for traders to correctly interpret the plethora of news, which, according to the majority, leads to oil’s volatility. We have to admit it […]
It was not the best start of a week for crude oil. The commodity’s price fell to 43.02 dollars a barrel on Tuesday, May 10th, and the bears were getting ready for a feast. However, it was not meant to be, since prices quickly reversed to the north and two days later – on Thursday, […]
The world was hoping that the biggest oil producers were going to reach an agreement to freeze output during their meeting in Doha on Sunday, April 17th. They did not, since Saudi Arabia insisted on all OPEC members taking part in the agreement. When the oil market opened with a huge bearish gap on Monday, […]
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