Decreasing demand + increasing supply as the world transitions away from fossil fuels. Corona virus is decreasing demand for airlines/cruise ships/travel companies and therefore accelerating the decline in demand for crude oil. The decline in crude oil is inevitable. Long term short.
Headlines: • Oil Posts Worst Day Since 2008 Down -10.07% • Saudi Aramco Sees Stock Plunge as Oil Prices Dive Last Week • Stocks in Asia Set for Lower Start as Futures Pointing Lower
Friday promises to be an extremely eventful and interesting day. On the one hand, statistics on the US labor market will not let you get bored in the currency and stock markets, and on the other hand, the results of the OPEC meeting will determine the dynamics in the oil market. We will talk about this and much more in today's review. But let's start...
All comments and likes are very appreciated. _________________________________________________________________________________________________________________ Today OPEC+ is going to make a decision to cut OIL production or not to cut. The decision mainly depends on Russia now and thus situation in the Oil market is very binary. Russia, for its part, sees U.S....
Headlines: • Equities Slump as Fears Return to Investor Sentiment with S&P500 – 3.77% • OPEC Ministers Push for Cut of 1.5 Million Barrels to Control Prices into Future • Ceasefire Announced in Idlib as President Putin & Erdogan Agree
Since yesterday, by and large, was the first full day of working out the Fed’s emergency decision to lower the rate by 0.5%, today some results can be summed up. And they are generally disappointing for optimists. In theory, stock markets should have perked up and provoked a sharp increase in stock indices. But this did not happen, that is, there was growth, but...
Headlines: • Crude Higher in Asia Ahead of 2 Day OPEC+ Talks • NOC Loss’ Push Above $2.5 Billion as Daily Production Stays Lows • US Futures Down as California Declares State of Emergency
Headlines: • Further OPEC+ Production Cuts Suggested by Joint Technical Committee in order Prop up Oil Prices • FOMC Cuts Interest Rate by 0.5% in Response to Concerns over Coronavirus • Turkey Continues Attacks on Idlib with a Further Syrian Fighter Jet Shot Down
Headlines: • Australia’s RBA Cuts Interest Rates to Lows of 0.5% Amid Weaker Economy • Crude Up During Asian Session as Optimism of OPEC Cuts Roll into Markets • G7 Scheduled for Today with Hopes of Action on Coronavirus by Ministers
The basic news background is still unchanged: the number of new cases in China is decreasing (+/-500 per day), that is, the epidemic is decreasing. But this is offset by an increase in the number of cases outside of China. And an epidemic from local is increasingly striving to become global. Lockdown in Northern Italy, panic in Iran, growth in the number of cases...
Hi Guys, Please add your comments and if you have any questions please do not hesitate to ask. Thank you for your support and for sharing your ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute...
Hi Guys, A nice double bottom at 49.31 and a prolonged divergence with RSI generated a pullback into the descending 100SMA (red). Last Thursday WTI finally reacted to the divergence with RSI as investors focused on the possibility of deeper supply cuts from OPEC. Is the worst over? What are the scenarios? Will price continue to pullback slowly or with a...
Headlines: • Saudi Arabia plans to see Gas & Petrochemicals as a Source of Future Energy • Covid-19 Cases Reach Close to 70,000 Globally as Spread Increases • How Oil Prices Finished Last Week • Asian Equity Futures ahead of the Overnight Session
Risk appetite appears to have improved somewhat during the Asian session, and the Loonie has been the strongest among the comdoll bunch. This is likely because the commodity currency is having some strength after Canadian data and a pickup in crude oil as well. After all, there are speculations that the OPEC could consider an increase in output cuts or at least...
Headlines: - Oil Futures shrugged off larger than expected EIA Build up +3% - OPEC expects global demand to drop after release of monthly report showing revision down - Gasoline & Heating Oil both push higher breaking away from weeks lows
Hi Guys, what happens when some of the world’s biggest oil traders seek to store crude on tankers at sea? The play is to seek to take advantage of the crash in crude prices and make a profit down the line. It happened in 2009 and in 2015 as reported by Reuters back then in this article: www.reuters.com Today Bloomberg reported that the same play is happening...