Crude Oil Prices Choppy, Rising Geopolitical Risks to Spark Oil Volatility of clients are net short. Long News of clients are net short. Long News of clients are net short. Long News of clients are net short. Long News 2021-04-07 10:30:00 Justin McQueen, Analyst
API Inventories Show Larger Than Expected Drawdown
Geopolitical Risks on the Rise
Since the OPEC outcome, which on the whole had been a surprise, oil prices have remained relatively rangebound as t
Crude Oil Technical Outlook: Oil Surges on Saudi Surprise â Key Levels to Watch 2021-01-09 22:00:00 Justin McQueen, Analyst
CRUDE OIL TECHNICAL HIGHLIGHTS: Neutral
Tug of War Between the Two Vs (Virus & Vaccine)
Oil Technical Set-Up: Beware of Short Term Pullback
Oil Surges on Saudi Surprise and Market Melt-Up
The oil market has gotten off to a strong start to begin 2021 with Brent and WTI crude futures posting weekly gains of circa 6%. In turn, oil prices are trading at its highest level since February/March at $55 and $51 for Brent and WTI respectively. While the continued pick up in risk sentiment, bolstered by a Democrat sweep following the Georgia runoff elections, has supported oil prices, the main factor at play had been Saudi Arabia’s surprise decision to make a unilateral pre-emptive cut in oil production by 1mbpd (10% of current production) throughout February/March. As such, with OPEC de-ris