19 years in trading
Bloomberg brings a story of the Essex traders lead by Paul Commins who made a $660 million profit in April when the Crude Oil fell bellow zero, to -$40 per barrel. I wrote about that fall here and I doubt there is a trader who wasn’t sow that fall. It was a historical event in the market. Well, there is
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While the Crude Oil Inventories is mostly positive for the price since July, market players don’t see any reason for move the price above $43, or they simply can’t do it? That’s how the price is stuck in between $35 and $43 from months, as I wrote recently here. Lower point and strong support is placed at $34,50-$36,00, while the
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I wrote about crude oil last time on June 16. when the price were at $39.00 per barrel. As I sow a potential small range in price, I didn’t sow a meaning to write about it. Simply, there was no clear technical signs of any larger movement up or down. No matter how the US Crude Oil Inventories was almost
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The crude oil has stuck in a small range for a couple of weeks, but especially in the last 8-9 days. As the Crude oil invetories shows no clear signs in June, same as in May, it’s impossible to predict the possible move based on that data, but the price is still in the hands of the bulls. I wrote
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I didn’t posted week by week data because there was big changes in US crude oil stocks during May, from positive for the price with -4.983 on May 20 . to negative for the price a week later with 7.928 million barrels. No matter the down/up changes, the price remain bullish in May with high at $40.00 per barell, today
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Crude inventories in the US rose by 4.590 million barrels in the week ended May 1st, 2020, following an 8.991 million increase in the previous period and compared with market forecasts of a 7.759 million advance, according to the EIA Petroleum Status Report. Meanwhile, gasoline inventories fell unexpectedly for the second straight week, down by 3.158 million. crude oil inventories 4590K
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Crude Oil is on the 6 day winning streak, reaching $24.44 for now as today’s highest level. After the slam of bellow zero, when the price reached a historical low of minus $37.00 per barel (May contract), the Oil has recovered and returned to decent and normal levels. As I wrote allready, my broker VantageFX has decided to made an
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Five hours before a collapse with WTI Crude Oil May futures I wrote an article in which I have warned about a strange development with Oil prices. In that moment, the WTI Crude Oil (May contract) were at aprox $16.00 and 5 hours latter the price fell for 330% to minus $37.00. A historical moment that’s for sure, as the
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If you are an amateur retail trader you’ve probably don’t know what in the hell is happening with Oil prices recently (I am not talking about the fall) and that’s not strange. We experienced traders are also confused, searching for the proper explanations. To be honest, I found a couple of good ones, but I can honestly say that I
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crude oil inventory build reached 19.248 million vs 12.7 million estimate. It was the largest weekly build on record. The private API data showed a build of 13.143M barrels gasoline inventories showed a build of 4.914M distillates showed a build of 6.28M Cushing OK crude oil build 5.724M vs 6.417M last week Gasoline demand remains depressed at 5836.4 (vs 5834.0) Crude oil demand 15.320M vs
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US weekly EIA crude oil inventories +15177k vs +9250k expected. Bearish data for the price, but Crude Oil is holding well at aprox $25.50 per barrel probably because of the optimism from tomorow’s OPEC+ meeting. API numbers from late yesterday: Crude: +11,938K Gasoline: +9445K Distillates: -177K Cushing: 6804K
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Crude prices jumped today after President Trump said he expected Saudi Arabia and Russia would agree to new oil-production cuts. CNBC’s Joe Kernan says he just received a call from the President and he told him that he expects the Saudis and Russians to announce a production cut of 10-15 million barrels per day. That would be around half of
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US weekly EIA crude oil inventories +13833k vs +3300k expected Prior was +1623K Gasoline +7524K vs +1200K exp Distillates -2194K vs +1000K exp Refinery utilization -5.0% vs -1.0% exp Production 13.0 mbpd vs 13.0 mbpd prior API yesterday: Oil +10485K Cushing +2926K Gasoline +6058K Distillates -4458K The price of crude oil is firmly held at aprox $20 and it looks
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Forex Trader 