🛢Trading #oil: what you need to know
The key factor for the oil market is what the world’s largest producers (OPEC) do. If they keep limiting oil output, the prices will go up. If they increase production, oil will depreciate.
The problem is that the OPEC members give the market different messages. Saudi Arabia and Russia signaled that they are ready to boost output. There’s also talk that the United States asked OPEC to raise supplies by about 1 million barrels a day. However, Iraqi Oil Minister said that an increase won’t be on the table at the June 22 meeting of OPEC.
📈The views in OPEC differ so much that they may not reach a compromise on June 22. Russian President Vladimir Putin will meet Saudi Prince Mohammed bin Salman on Thursday, June 14 – there may be price-moving comments. In the meantime, WTI may consolidate in the $66.50/$64.30 range, while Brent may stay in the $78.50/$74.50 range.
The key factor for the oil market is what the world’s largest producers (OPEC) do. If they keep limiting oil output, the prices will go up. If they increase production, oil will depreciate.
The problem is that the OPEC members give the market different messages. Saudi Arabia and Russia signaled that they are ready to boost output. There’s also talk that the United States asked OPEC to raise supplies by about 1 million barrels a day. However, Iraqi Oil Minister said that an increase won’t be on the table at the June 22 meeting of OPEC.
📈The views in OPEC differ so much that they may not reach a compromise on June 22. Russian President Vladimir Putin will meet Saudi Prince Mohammed bin Salman on Thursday, June 14 – there may be price-moving comments. In the meantime, WTI may consolidate in the $66.50/$64.30 range, while Brent may stay in the $78.50/$74.50 range.
🌇 Folks, check the fresh daily update out: https://bit.ly/3psUDt0 - gold is dropping to November lows
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Plunging gold and the cooling S&P 500 on February 17
While the winter in Texas keep WTI oil above $60, gold goes down to November lows on high US Treasury yields. Watch the video for technical analysis of the k...
#oil #forecasts
🔝OPEC+ is in crisis, oil is up
How far can oil prices rise? For how long will the growth continue? Here’s what analysts think!
UBS: If there’s no agreement, oil will be at $80 a barrel in September.
ING: OPEC’s inability to reach an agreement is a bullish factor for oil prices, although the probability that oil producers won’t reach a deal is low.
FGE: If OPEC fails to reach an agreement, oil will rise towards $85-90 a barrel, but a compromise is likely within the next 1-3 weeks. Until then, oil will be rising.
Rystad Energy: There will be an immediate correction in oil after OPEC+ announces the deal.
❓Do you agree? Do you have buy orders open in XBR/USD or XTI/USD?
🔝OPEC+ is in crisis, oil is up
How far can oil prices rise? For how long will the growth continue? Here’s what analysts think!
UBS: If there’s no agreement, oil will be at $80 a barrel in September.
ING: OPEC’s inability to reach an agreement is a bullish factor for oil prices, although the probability that oil producers won’t reach a deal is low.
FGE: If OPEC fails to reach an agreement, oil will rise towards $85-90 a barrel, but a compromise is likely within the next 1-3 weeks. Until then, oil will be rising.
Rystad Energy: There will be an immediate correction in oil after OPEC+ announces the deal.
❓Do you agree? Do you have buy orders open in XBR/USD or XTI/USD?
#BREAKING #Oil
📣Russia’s top negotiator in OPEC+, Alexander Novak, said that:
- OPEC+ has fulfilled the goal of removing excess oil from the global market and it is now important to keep the market balanced.
- Russia is capable of increasing the output exceeding OPEC+ limits.
- Global oil market will fully recover in 2022.
Look at oil's decline!🔽
📣Russia’s top negotiator in OPEC+, Alexander Novak, said that:
- OPEC+ has fulfilled the goal of removing excess oil from the global market and it is now important to keep the market balanced.
- Russia is capable of increasing the output exceeding OPEC+ limits.
- Global oil market will fully recover in 2022.
Look at oil's decline!🔽
#Oil #Russia #sanctions
🇪🇺The Group of Seven price ceiling on Russian seaborne oil came into force on Monday as the West tried to limit Moscow's ability to finance its war in Ukraine. However, Russia, the world's second-largest oil exporter, said it would not accept the cap, even if it had to cut production.
It is massively bullish news for the XBRUSD, which has formed an inverted head and shoulders pattern.
🕊If the price breaks above the neckline (88.80 resistance level), it might reach 91.50 and 94.65.
🟢Trade: BUY
⭐️Entry: On the breakout above the 88.80 resistance
🎯Targets: 91.50, 94.65
🤔Are you trading XBRUSD?
✅START TRADING ✅
🇪🇺The Group of Seven price ceiling on Russian seaborne oil came into force on Monday as the West tried to limit Moscow's ability to finance its war in Ukraine. However, Russia, the world's second-largest oil exporter, said it would not accept the cap, even if it had to cut production.
It is massively bullish news for the XBRUSD, which has formed an inverted head and shoulders pattern.
🕊If the price breaks above the neckline (88.80 resistance level), it might reach 91.50 and 94.65.
🟢Trade: BUY
⭐️Entry: On the breakout above the 88.80 resistance
🎯Targets: 91.50, 94.65
🤔Are you trading XBRUSD?
✅START TRADING ✅
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