Posts Tagged ‘WTI Crude oil’

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Oil Recoups Losses While Ruble Fends Off Dollar’s Attacks

The upcoming meeting between the United States and China, where the countries may resolve their trading disputes, had a negative impact on the oil market. However, today, Crude Oil is making attempts to recover losses. The Brent Crude Benchmark is trading slightly above the level of $72 per barrel. The commodity managed to add over 50 points from the moment when it started to fall. Market participants doubt that talks […]

Oil Tries to Recoup Losses

Today, traders are bullish on Crude Oil, but the commodity is set to end this trading week in the negative zone. The Brent Futures are approaching the level of $72 per barrel. Analysts say that a rise was triggered by the news about a possibility of negotiations between China and the United States aimed at settling trade disputes. The Light Sweet Crude Oil is also gaining ground, approaching the level of $66 per barrel. […]

Oil Prices Trading Under Pressure While Ruble Tries to Reverse Bearish Trend

The sentiment of oil traders deteriorated after the report of the Energy Information Administration had been published. The EIA data showed that the stockpiles of Crude Oil in the United States increased by 6 million 805 thousand barrels in a week while experts predicted a decline. This factor contributed to a fall in oil prices. At first, let us pay attention to the dynamics of the shale oil price. WTI futures were trading near the level of $65 per […]

Oil and Ruble Trading with Same Bias

By the end of the trading day on Monday, oil prices surged amid the news about a decline in the oil output in Saudi Arabia. Yesterday, the monthly OPEC report showed that the oil cartel revised downwards, its outlook for the demand. It triggered a massive selloff in oil futures. However, the subsequent news about a decrease in production in Saudi Arabia of 200,000 barrels per day offset the negative impact of the previous news. The Brent Crude Benchmark rose […]

Oil Prices Trading Near Friday’s Levels

Tension in relations between the United States and Turkey has come under the spotlight today. Thus, another country has got into trouble with protectionist Donald Trump. Remarkably, this factor had a positive effect on the oil market. The Brent Crude Benchmark retreated from the low at $71.50 per barrel and added over 1%. Today, Brent is trading slightly below the level of $73 per barrel. Experts say that […]

Oil Prices End Week in Negative Zone

Crude Oil risks to suffer huge losses by the end of this week. The commodity is still trading at lows. The Brent Crude Benchmark has barely touched the level of $71.50 per barrel. Currently, the price is correcting its movement. The anti-Iranian sanctions do not provide support to the commodity as traders shifted their attention to the trade conflict between the United States and China. WTI Crude Benchmark is also trading with the bearish […]

Oil Market Collapse and US Sanctions Stand Behind Russia’s Ruble Decline

Escalation of a trade war between the US and China is gradually spreading its influence across the global market. Now, the oil market has been affected. The Brent Crude price plummeted by 3% on Wednesday. Today, it is trying to win back losses, staying near the level of $72.50 a barrel. China has already promised to response to the introduction of 25% import tariffs by United States, on $16 billion worth of Chinese goods, which […]

Ruble Plunges While Oil Tries to Reach Weekly Highs

Oil prices have finally stabilized. The quotes are consolidating near highs. The Brent Crude Benchmark is hovering near the level of $74.60 per barrel. Oil prices are rising on the back of political instability. Donald Trump's protectionism expands with every passing day which makes the global community skeptical about the US policies. Amid that, the demand for oil futures increases. The Light Sweet Crude Oil is also […]

Oil Prices Get Back to Recent Highs

Oil prices managed to resume a rise on the back of anti-Iranian sanctions. The first round of sanctions against the 5th biggest oil producer has already come into force, but the US President decided to be even further. Donald Trump confirmed plans to enforce embargo on exports of Iranian Crude Oil. According to preliminary information, the sanctions will be tightened on the 4th of November. Furthermore, Trump ordered to restrain Iran from buying the US dollars, […]

Oil Traders Finally React to Risk of Strait of Hormuz Shutdown

While the sentiment in the currency market is changing rapidly, the oil market is relatively calm. As currency experts expected, American traders started the new working day, fixing profits on their long deals on US dollar. It is a common practice ahead of the weekend. However, the US jobs data and the non-manufacturing ISM index may boost demand for the American currency. Meanwhile, the US dollar index reversed to the downside, allowing the euro and the pound […]