The oil market is currently the battleground of a tremendously hard-fought struggle that will likely resolve in favor of higher prices with an increase in volatility along the way.
After decisively holding the line above $100/bbl in recent weeks, Crude Oil looks ready to extend gains.
On one side you have the price suppression from the US-led SPR releases,...
Contrary to our expectations, OPEC's meeting resulted in a further drop in the price of USOIL. Sudden drop of more than 2 USD per barrel (to as low as 62.46 USD) occured on headline news regarding the proposal on output hike by Russian Federation.
Sudden selloff is shown on 1 minute chart below:
It took merely 5 minutes for USOIL to drop over 4.3%.
We...
