|Bid||20.28 x 1800|
|Ask||20.29 x 1200|
|Day's Range||20.20 - 20.66|
|52 Week Range||14.58 - 24.41|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||2.00|
|Expense Ratio (net)||0.90%|
Crude oil markets fell a bit during the trading session on Wednesday after a larger than expected build in crude oil inventories in the United States. This is obviously very bearish, but we have so many different moving pieces right now when it comes to crude oil that it’s not the be-all and end-all.
Crude oil is also feeling pressure from today’s risk-off trading session in the equity markets. At 14:30 GMT, investors will get the opportunity to react to the weekly inventories report from the EIA. It is expected to show a 1.2 million barrel draw. An unexpected build could put further pressure on oil prices.
Crude oil markets tried to rally during the trading session on Tuesday, but it is looking very likely that we are going to continue to see a lot of selling just above. If that’s going to be the case we may be trying to carve out another short-term range.
How Brent-WTI Spread Is Affecting Oil Exports and Energy StocksBrent-WTI spreadOn May 20, Brent crude oil active futures settled ~$8.76 higher than the WTI crude oil active futures. On May 13, the spread was at ~$9.02.In the past five trading
We’re looking for a sideways to lower trade on Tuesday with the fundamentals basically neutralized by the combination of potentially bullish and bearish scenarios taking place at this time.
This morning, the commodity market got a new impulse for growing. Brent is moving upwards on Monday 20th; it added 1.1% and is currently trading at 72.96 USD, although in the morning the highest level was 73.40 USD.
The OPEC-led supply cuts have been the one constant underpinning crude oil prices since the first of the year. Although a decision to extend the program will not be made until OPEC and its allies meet in late June, today’s price action confirms that this is the main catalyst driving the rally. Additional support is being provided by the U.S. sanctions on Venezuela and Iran.
Based on last week’s price action and close at $71.26, the direction of the August Brent crude oil market this week is likely to be determined by trader reaction to the main Fibonacci level at $71.31.
It’s a mixed start to the day, support for the Aussie Dollar kicked in, while the EUR and the Pound could be under pressure. EU elections loom…
For much of last week, it looked as if worries over supply disruptions were going to be the main price driver due to the relative calm being generated by renewed trade talks between the United States and China. However, this line of thought changed on Friday with the announcement that said the trade talks have stalled. It now looks as if demand fears amid a standoff in Sino-U.S. trade talks have re-entered the picture.
Crude oil markets had a slightly better week over the last five trading sessions, as we continue to see a lot of volatility in the world’s financial markets. Obviously, crude oil is highly influenced by what’s going on in other markets as it represents global growth.
The crude oil markets try to rally during the trading session on Friday but have rolled over at significant resistance. That being the case, it looks likely that the market is going to continue to try and figure out where to go next.
Brent crude is on its way to log its first gain in three weeks on the Middle East crisis. This prospect has bolstered these high-yielding MLP ETFs.
With tensions running high in the Middle East, look for prices to remained underpinned going into the week-end. There are many supply risks at this time and with the U.S. deploying a sizable military force in the area, there could be a serious conflict with Iran should the rogue nation do something to U.S. forces in the region.
Potential supply disruptions due to high tensions in the Middle East are expected to continue to underpin prices although Brent crude oil should be the stronger of the two futures contract. Helping to keep a lid on WTI crude oil are worries over rising inventories.
Crude oil markets rallied slightly during the trading session on Wednesday, showing signs of life again as we continue to walk along this uptrend line. By doing so, it looks as if the market is trying to save itself.
The sideways-to-lower short-term trend could continue today following the release of the U.S. Energy Information Administration (EIA) at 14:30 GMT. Estimates call for little change following last week’s 4 million barrel draw down. A strong build could weigh on oil prices, but geopolitical risks could keep prices afloat.
Get ready for a surge in Europe's benchmark oil price: Brent crude. There's a shortage of crude in Europe, and the price of Brent futures contracts doesn't reflect that stark reality, according to a new report. "We expect the tightness in the physical market to impact the financial market, and see Brent rising to $75/[barrel] over the coming weeks," UBS wrote in a recent research note.
Technical factors could play a role in today’s price action with traders showing respect to the very important 200-day moving average. For WTI, the key support is $60.75 and for Brent, the number to watch is $68.92. This indicator is closely followed by hedge fund traders.
The crude oil markets rallied significantly during the Monday session to show the overall trend continue to hold. By doing so, it shows that the market is still very much focusing on the same type of attitude.
Hedge funds cut bullish commodity bets to a 40-month low in the week to May 7. The 41% reduction to just 219k lots was broad-based with all sectors being sold in response to renewed trade war and demand concerns.
Oil has come to the deadlock. On Monday May 13th, Brent is trading at 71.12 USD as it recovered from plunging early in the month. However, oil has no reasons for either rising or being actively sold.
WTI and Brent crude oil are likely to remain firm on Monday unless the U.S.-China trade dispute situation escalates. Speculators are holding new longs in reaction to the attack near Fujairah. They are likely to maintain their positions in anticipation of additional attacks, or until they find out how much oil has been lost, and how much damage the facility sustained.
With the main trend down, trader reaction to the major Fibonacci level at $71.51 will determine the direction of the July Brent crude oil market on Monday.
The crude oil markets went back and forth during the week, forming a bit of a neutral candle with a slightly upward bias. Support has held at the trend line, so it looks very likely that the market is about to make a major decision.