GEMFOREX - weekly analysis
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GemForex | Crude Oil (WTI)
Crude Oil (WTI) - Rebound in the offing?
WTI hits fresh cycle highs in the mid-$63.00s
WTI hits fresh cycle highs in the mid-$63.00s
WTI Breaks Below $41.0 As EIA Cuts Demand Forecast
On Thursday, WTI saw its rally just shy of the intraday high of $42.18 and witnessed choppy downsides before breaching below the support at $41.0 to the intraday low of $40.61, notching two consecutive days of drops.
Rejection of Trump's Aid Bill & Pressure on WTI
Recently, Trump's 1.8 trillion stimulus bill was rejected again, dampening the risk sentiment soaring in the market.
WTI Crude Oil: Looking for Direction!
Although crude oil prices have recovered from their lowest levels since late April recorded during the crisis caused by the COVID-19 pandemic, business leaders and oil industry experts are questioning whether oil demand has really peaked or not.
Setback in WTI May Lead a Breach Below $30
On Tuesday, the Wall Street equity indices further declined with the Nasdaq losing 4.11% to 10,847.69. Consequently, WTI crude posted its worst day in nearly three months, falling sharply to an intraday low of $36.12 from the level above $39.0.
Negative Oil Prices Are Exceptional Rather than Normal
Recently, some countries have seen crude oil price fallen to negative range. However, we believe that in light of the US crude oil futures contracts for June, the negative price is still an exception rather than the norm in the global crude oil market.
Crude Oil Price Flops; Trump May Ease on Iran After Bolton Fallout
US Crude Oil Futures are dropping today as reports cross the wire revealing that Boltons prompt exit from his advisory role stemmed from a fundamental disagreement with President Trump on Iran.
Sliding Crude Oil Cant Look to Jackson Hole For Price Support
Crude oil prices continue to drop as the economic data keep huge question marks glowering over likely demand levels.
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