NYMEX WTI is trading above $63/bbl, while ICE Brent was seen approaching $66/bbl on US-China trade talk optimism. Meanwhile, the latest round of discussions between…
Short the WTI crude oil and set a take-profit at $55.40. Add a stop-loss at $67. Timeline: 1-2 days. Buy the WTI crude oil and…
Chinese refineries continued to import large quantities of crude oil in April, Commerzbank’s commodity analyst Carsten Fritsch notes. US places independent refineries from China on…
The US Energy Information Administration (EIA) has revised its forecast for US crude oil production downwards, Commerzbank’s commodity analyst Carsten Fritsch notes. Decline in production…
Kazakhstan continues to produce significantly more oil than agreed and apparently has no plans to reduce production in May, Commerzbank’s commodity analyst Carsten Fritsch notes.…
WTI rallies after US stockpiles fall for the second straight week, signalling tighter supply. US–China trade talks resume this weekend, boosting the demand outlook amid…
During the trading session on Wednesday we saw the Light Sweet Crude market rally, reaching the crucial $60 level. However, the market has pulled back…
USD/CAD attracts fresh sellers on Thursday and is pressured by a combination of factors. The USD bulls remain on the defensive despite the Fed’s hawkish…
The light sweet crude oil market has rallied pretty significantly during the trading session on Tuesday as we continue to see a lot of volatility.…
The outlook for the Oil price remains grim as the OPEC+ has announced that it will speed up the unwinding of 2.2 million bpd output…