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Oil Complex Rises on Geopolitical Tension
Trade Deal Hopes Buoys the Bulls
WTI oil prices rose Monday morning to $56.94/barrel due to a barrage of bullish headlines which puts this year’s oil rally north of 22% and climbing.
Read MoreWHO RUNS THE WORLD? OPEC
The world of crude oil is buzzing right now, as OPEC is currently meeting in Vienna, with a goal of reaching an agreement over production levels within the next 6 months. Oil prices dropped over 3 percent on Thursday as OPEC agreed to cut production. However, the cartel is waiting to decide on the actual […]
Read More“All-Important” Meeting Imminent
Who Will Come In First?
June 22nd marks the next meeting of the OPEC producers to be held in Vienna. Moving into the second half of the year it is highly uncertain if a global glut has ended.
Read MoreRetracement?
On May 22nd WTI Crude nearly reached $73 / barrel and since then prices have dipped almost 10%.
Read MoreThe Bulls Take a Pause
Trading is tepid today after bullish geopolitical news sparked weekly gains across the board. Technically, the market is extremely overbought, but the computers may be apprehensive to sell until any of the following issues are resolved.
Read MorePut Your Rally Hats On?
WTI crude oil prices have risen more than $2.5 per barrel in the past 48 hours on a duo of bullish news.
Read MoreOPEC Decision Day
The oil market is anxiously awaiting news from Vienna, Austria regarding OPEC / Non-OPEC oil cut extensions, the Energy Information Association released its weekly data yesterday. After digesting the numbers, the market settles down in refined products as well as crude. RBOB saw a drop of over four cents closing at $1.7309 / gallon, while […]
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