Russia Boosts Crude Oil Output, Hedge Funds Pare Bull Bets

Russia Boosts Crude Oil Output, Hedge Funds Pare Bull Bets $OIL, $USO, $UGA, $BHI Hedge funds pared Bullish Crude Oil bets for the 1st time in 6 weeks, losing faith in a swift recovery as Russia boosted output to the highest marks since the Soviet Union collapsed in Y 1991. Speculators reduced net Length position […]

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Shayne Heffernan Oil Price Report

Shayne Heffernan Oil Price Report Oil prices fell Friday on weaker global growth concerns triggered by a weak US jobs report, reversing earlier gains as a hurricane risked threatening refineries on the US east coast. US benchmark West Texas Intermediate (WTI) for delivery in November delivery dropped 59 cents to 44.15 a barrel compared with […]

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Thursday’s Techincal Outlook For: WTI Crude Oil (USO)

Thursday’s Techincal Outlook For: WTI Crude Oil (USO) $USO, $OIL, $GS Following Wednesday’s inclines, small body candles have been formed in the Asian session, as the low liquidity conditions dominated the movements ahead of Fed’s FOMC interest rate announcement. WTI Crude Oil stabilized above 23.6% Fibo mark at 46.55, a good technical catalyst in here. […]

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Crude oil drops, glut to last for 15 years?

FXStreet (Mumbai) – Crude prices at both the sides of the Atlantic dropped on Thursday as global growth concerns heightened after weak Japanese data released earlier today.

At the time of writing, WTI oil for October delivery was trading 1.5% lower at USD 46.38/barrel. Brent for October delivery was down 1.7% at USD 48.88/barrel. The data released earlier today showed Japan’s exports slowed for a second straight month in August, highlighting the slowdown in the global economy.

Goldman sees 15-years of weak Crude

The bearish pressure on prices strengthened further after the investment bank Goldman Sachs said the crude oil glut may keep prices low for the next 15-years.

The oil traders also wait to see if the Fed raises rates later today and re-establishes the optimism surrounding the US economy or delays its rate hike and points to a slowdown in the world’s largest economy.

Crude prices at both the sides of the Atlantic dropped on Thursday as global growth concerns heightened after weak Japanese data released earlier today.

(Market News Provided by FXstreet)

Tuesday’s Technical Analysis For: WTI Crude Oil

Tuesday’s Technical Analysis For: WTI Crude Oil $USO WTI Crude Oil closed lower Monday. The low range close set the stage for a steady to lower open Tuesday on NYMEX. Stochastics and the RSI are Neutral to Bearish signalling that a short term top is in or close. Closes below the 20-Day MA crossing are […]

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