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The U.S. plans to release large amounts of strategic oil reserves, but OPEC+ has no intention of increasing production significantly!
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The Commodities Feed: OPEC+ Noise Begins

Noise ahead of next week’s OPEC+ meeting has begun and given the level of…
Devin Wang
PROFIT +1690 Points

WTI: Trend Rally Not Yet Over, Oil Price Correction May Limited

WTI crude oil surged higher yesterday and fell below $80 per barrel again, cooling the market's bullish sentiment for several days. The pickup in API inventory data this week also partially reinforced the weakness in oil prices. Our view remains unchanged that the trend rally is not over and oil price correction may be limited.
Eva Chen

OPEC Has More 'Market Power' as Crude Supply Concerns Returned, Goldman Sachs Says

The OPEC+ will mostly likely unwind its production cuts for the second half of 2023, the investment bank said.
Samantha Luan

WTI: Markets Ignore Record Inventory Report, Bull Correction May Set off Again

U.S. EIA crude oil inventories increased by 18.96 million barrels in the week to January 6, significantly higher than market expectations and the third largest weekly increase on record. Expectations of increased demand continue to provide some support for oil prices as economies in emerging markets get back on track. It is believed that once the current wave of infections tops out and economic activity picks up, oil prices will rise again.
Eva Chen
PROFIT +1648 Points

WTI: Gap Between Indicators Is Narrowing, Suggesting that Bear Profit-taking May Occur

WTI crude oil continued to fall, closing below US$77 a barrel on Tuesday, its steepest decline since mid-November, as market sentiment worsened, coupled with mild winter temperatures in most parts of the world and reduced concerns about the energy crisis. Crude oil prices are likely to experience a struggle at the moment and a strong USD is likely to continue as investors cannot give up fixed income.
Eva Chen
Sell WTI
LOSS -3613 Points

WTI: Bears Still Take the Lead as No Obvious Improvement Is Recorded in Demand Prospect

Oil prices began to fall amid thin liquidity as investors balanced the consequences of China's reopening versus Russia's embargo on exports to buyers who comply with price caps.
Eva Chen
Sell WTI
LOSS -2235 Points

WTI: Follow-up Oil Prices Will Probably Continue to Repair the Market

After rallying 10% for three consecutive days last week, oil prices fell back again on Thursday and Friday. Nevertheless, with the U.S. starting to buy back the Strategic Petroleum Reserve and the further recovery of Chinese demand in the background, oil prices will probably continue to go on the repair market subsequently.
Eva Chen
PROFIT +614 Points

WTI: Price Retracement Without Breaking the Targets Means Recovery Momentum Officially Kicks Off

The IEA said oil prices could rise next year as western sanctions squeeze Russia's oil supply and market demand exceeds expectations. The risks remain until the FOMC meeting. The sell-off triggered by worries about the recession may have been halted after two consecutive months of data indicating that U.S. inflation has cooled.
Eva Chen

Opec fund enters capital market with a modest but attractive proposition

A small private placement would not normally spike interest, but when the Organization of the Petroleum Exporting Countries Fund for International Development sold a $50m trade earlier this month, it marked the arrival of a brand-new supranational borrower to the capital markets.
PROFIT +3797 Points

BRENT: Refined Oil Products Are Heavily Depleted and Short-term Oil Prices Are Easy to Fall but Difficult to Rise

Market worries about the Fed's continued aggressive rate hikes and global economic recession have intensified. Oil prices continue to be under pressure to the downside. The market may continue the downtrend in the short term, but you need to be careful of the risk of an oversold rebound.
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