Crude Oil Trading

The five largest U. Demand for oil, on the other hand, generally depends on overall global economic growth as the commodity has wide-ranging applications. Oil is one of the most popular commodities in the trading world and is traded in most of the leading Forex and binary options platforms. Technical Analysis Candlestick Patterns. Chandrashekar Aitharaju 10 minutes ago. Results achieved on the demo account are hypothetical and no representation is made that any account will or is likely to achieve actual profits or losses similar to those achieved in the demo account.

Crude oil prices: a tale of supply and demand Like all commodities, the price of oil is heavily influenced by supply and demand. As a consequence, many traders will attempt to estimate global production and consumption when predicting where oil prices will head.

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Crude oil prices Crude Oil is a naturally occurring fossil fuel. Its proximity to these coastlines makes it relatively easy and cost-effective to transport internationally, which is why almost two thirds of global oil is priced using this benchmark. First Name Please enter valid First Name. Last Name Please enter valid Last Name. E-Mail Please enter valid email. Phone Number Please fill out this field. Country Please Select Please select a country. Yes No Please fill out this field. For more info on how we might use your data, see our privacy notice and access policy and privacy website.

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Fundamental Forecast for Oil: Oil prices continued to move lower this week as global markets wrestle with the prospect of increased production. In late-June, OPEC and a group of ten non-OPEC oil producing countries announced that supplies would be increased as production caps were lifted in the effort of offsetting Iranian production after US sanctions go into effect. This move also brought the potential to moderat e the hefty gains that had been seen over the past year, which have nudged inflation numbers-higher across the world, even catching the ire of President Trump.

Both markets are now in the midst of a pullback as US inventories are piling up to go along with this backdrop of increasing global production. All hope is not lost for Oil bulls, however, as we still have the potential for supply shocks given some of the geopolitical tensions that have flared in key producers like Venezuela or Iran, and this may be an operative reason for a hold of support this week despite the continued threat of increasing supplies.

Chart prepared by James Stanley. The surprise item from this week was an unexpected build of US supplies as shown in the Wednesday release of EIA data for this week. This printed at 3. The backdrop for Oil is about as clear as, well, Oil, at this point. This was designed to offset the lost production from Iran as economic sanctions go into effect next week. But this potential increase in supply may be still faced with disruptions as geopolitical tensions tighten in Venezuela and Iran.

In Iran, it was reported that the country conducted a military exercise in the Strait of Hormuz on Thursday. In Venezuela, the economic meltdown continues.

This likely continued through July as oil fields were shut down and workers fled. Other estimates from the IMF suggest that inflation could surge to as high as one million percent by the end of the year, putting the country deeper into a tailspin that makes day-to-day operation of running an oil extraction business a daunting task. Are you looking for longer-term analysis on the U.

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USOIL Chart

Crude Oil Price Technical Analysis Oil is one of the most commonly traded commodities in the world, and is available for trade in most of the top Forex trading platforms, as . Crude Oil Price Update – Tested Key Retracement Zone at $ to $ on Thursday. U.S. West Texas Crude Oil futures fell sharply on Thursday after government data showed an unexpected build in gasoline inventories during the week-ending August The . Oil is one of the most popular commodities in the trading world and is traded in most of the leading Forex and binary options platforms. The price of Crude Oil fluctuates based on a variety of factors including any number of political factors, a variety of natural disasters, and deviations in the currency markets.