crude oil

The West Coast saw a huge crude oil build, but for traders the left coast is sometimes the left-out coast.
A daily summary of high-profile members of several complexes…
When oil markets are headed towards rebalancing, any shocks due to supply shortage may lead to a huge spike in prices. Brent prices fell on Tuesday to a low of $73.47 per barrel, indicating that $75 may be a short-term top.
Crude oil prices have been unable to build on the large gains made during Monday’s sessions. Those gains were driven by increased concerns over the potential restriction of Iranian oil exports after Israeli Prime Minister Benjamin Netanyahu accused Tehran of having a secret plan to build nuclear weapons.
There is a growing air of anticipation across financial markets ahead of the European Central Bank rate decision and press conference later in the day.
The story behind the dollar’s incredible appreciation in recent days continues to revolve around rising U.S. bond yields and easing geopolitical risks.
Equities in Asia received a boost today, as a result of higher commodity prices and strong U.S. earnings announcements. Energy and mining stocks are leading the gains this morning.

While many are thinking that the sharp rise in the price of oil is an overnight sensation, the reality is that this is a bull market that has been years in the making.

A fresh 2018 high, an unbroken resistance and negative divergence. What does this interesting mix tell us about oil bull’s strength and further increases?
Oil prices managed to recover from sharp losses yesterday, but still remain in the red for the week. At the start of today’s session, prices were a little weaker as speculators made a more sober assessment of yesterday’s oil report. At first sight, the EIA’s weekly crude stocks data appeared bullish.