|Bid||0.00 x 900|
|Ask||23.99 x 4000|
|Day's Range||18.99 - 19.17|
|52 Week Range||14.58 - 24.41|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.89|
|Expense Ratio (net)||0.90%|
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures hit their highest levels since late November on the hopes that a U.S.-China trade deal will soon be reached. Gold futures went on a roller-coaster ride last week, first rallying to a 10-month high before giving back most of those gains then rebounding late in the week to settle higher. Natural gas futures rallied last week on the back of weather forecasts that pointed toward increasing demand.
Crude oil markets rallied during most of the week but continues to struggle at the familiar resistance areas. Because of this, it looks like we need some type of catalyst to get going.
The crude oil markets rallied a bit on Friday but continues to be suppressed at major resistance levels. Because of this, I think that the market is probably trying to churn up enough momentum to the upside to continue going higher. Short-term pullbacks should be buying opportunities from what I see though.
With supply and demand nearing a balance point, there may not be that much more upside potential in the markets. Goldman Sachs said on Thursday that surging U.S. supply likely means that expected non-OPEC supply will grow by 1.9 million bpd this year, more than offsetting the OPEC cuts.
Crude oil markets pulled back a bit and it’s significant resistance during the trading session on Thursday, showing signs of exhaustion after a very strong run to the upside.
The story remains the same. The OPEC-led supply cuts and the Venezuelan sanctions are working to trim supply and that is helping to support the rally. U.S. production continues to slow the rally and at times puts an actual cap on gains. The wildcard remains a U.S.-China trade deal. Reaching a deal this week will be bullish for crude oil prices because it could lead to increased future demand.
Prices could continue to gyrate given the offsetting news about OPEC-led production cuts and soaring U.S. production. However, any positive developments over U.S.-China relations could provide the boost that crude oil needs to take out the recent top and continue the rally. If there is no news then prices could drift sideways.
The United States Oil Fund (NYSEArca: USO), which tracks West Texas Intermediate crude oil futures, and the United States Brent Oil Fund (NYSEArca: BNO), which tracks Brent crude oil futures, are each ...
As I wrote last week, this current rally is not about trying to drive oil prices back to triple digits, but rather to find the balance point for supply/demand and prices.
The crude oil markets didn’t do much on Monday, but when you look at the charts overall they do show quite a bit of strength. I think at this point, the market is certainly trying to break out from the longer-term standpoint, but obviously we have a lot of noise in the market.
Prices are retreating from early session highs after China reported automobile sales in January fell for a seventh month, raising concerns about fuel demand in the second-largest oil user.
The OPEC cuts are not about turning crude oil into a raging bull market, but rather to drive prices into a balance area. Currently, both WTI and especially Brent crude oil are within striking distances of that area.
Crude oil markets rallied significantly during the trading session on Friday to send this market above what has been massive resistance. Because of this, I think that the market is poised to go higher as we have been flirting with that level for quite some time.
The crude oil markets rallied significantly on Friday, breaking above resistance barriers during the process. However, the question now is whether or not we can stay above here?
The script for WTI and Brent crude prices is expected to remain the same on Friday. OPEC-led production cuts and Venezuelan sanctions are expected to underpin prices while concerns over rising U.S. production and slowing demand will limit gains.
Crude oil markets continue to grind higher, but we continue to see the same massive resistance area pushing the market back down. At this point, I think that the market is likely to continue to go back and forth, but eventually we will get a breakout, and that will be an excellent signal.
Short-term, the crude oil market looks bullish, but as WTI and Brent futures contracts approach the 50% retracement levels from their October highs to their December lows, the rally should stall. This is because the market is still oversupplied.
Energy stocks and oil-related exchange traded funds led market gains Wednesday as investors shifted over to a more risk-on mood in anticipation of a U.S.-China trade deal. Among the best performing non-leveraged ...
Crude oil markets initially fell during the trading session on Wednesday but turned around to show signs of life again. We continue to run into major resistance above, so obviously we have some work to do.
The combination of the OPEC-led production cuts, the increased reduction by the Saudis and in a limited way, the sanctions against Venezuela are helping to underpin prices, but in order to put the market over the top, demand is going to have to increase.
Crude oil markets rallied a bit during the trading session on Tuesday after falling initially. The market has been consolidating for some time, and therefore it’s not a huge surprise that we continue to do nothing in this area.
At this time, there is a lot of uncertainty in the marketplace and this tends to weigh on investor sentiment, but as long as OPEC and its allies continue to stick with their strategy to cut production and trim the global supply, prices should remain supported enough to prevent a steep sell-off.
Until we start to see some inventories numbers this week, the biggest influences on crude oil prices are likely to be concerns over U.S.-Chinese trade relations and trader appetite for risky assets. Trade talks between the two economic powerhouses are set to begin this week, but the two parties are said to be far from reaching a deal.