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WTI oil eases as refineries processed less crude WTI oil eases as refineries processed less crude

Fawad Razaqzada October 18, 2017 5:05 PM

Crude higher on US oil inventories drawdown

Fawad Razaqzada July 19, 2017 5:58 PM

Until today, the price of oil had been little-changed during the week. Market participants were waiting for direction from the weekly US oil inventories report, which was published earlier today.

TAGS: Crude, Crude oil, EIA, WTI

Crude stocks may have snapped six-week build streak

Fawad Razaqzada February 23, 2017 12:51 PM

Oil prices have bounced back after Wednesday’s decline and are thus back higher on the week after Monday’s rally. As before, I think oil prices are heading higher. The lack of a clear trend over the past several weeks has coincided with rising US crude oil inventories to new record levels. But after a six-week streak of rises, US oil stocks are like...

TAGS: Crude, Crude oil, EIA, Oil, WTI

Crude steady as DoE oil stocks build lower than API estimate

Fawad Razaqzada February 15, 2017 3:56 PM

Crude oil prices have been on a roller-coaster ride to absolutely nowhere in recent weeks. It appears as though the buying and selling pressure in finely balanced. Bullish speculators are encouraged to remain in the game because of the OPEC’s efforts to reduce supply. Bearish traders are encouraged by signs of renewed rise in oil production in the U...

TAGS: API, Crude, Crude oil, DOE, EIA, WTI

Crude oil at higher plateau ahead of US inventory data

James Chen, CMT December 20, 2016 9:31 PM

Crude oil prices have recently been lifted to year-to-date highs on a successful agreement to cut oil production and control supply among major OPEC and non-OPEC oil producers. Although it is still unclear as to how closely all parties to the deal will adhere to the specifics of this agreement, market optimism has pushed crude oil prices to a new, h...

TAGS: Brent crude, Crude oil, EIA, Fundamental Analysis, OPEC, Technical Analysis

Crude struggles despite surprise draw in US oil stocks

Fawad Razaqzada December 14, 2016 5:37 PM

Crude oil struggled to hold onto its initial gains made on the back of the official US oil inventories report. Both contracts initially bounced nicely after the EIA data showed a surprise drawdown of 2.6 million barrels in US oil stocks, rather than a large build as had been reported by API last night. However, it wasn’t all good news as the EIA als...

TAGS: API, Brent, Brent crude, Crude, Crude oil, EIA, OPEC, WTI

Crude oil outlook worsens as US inventories soar

James Chen, CMT November 2, 2016 8:00 PM

The bad news for crude oil began recently after doubts started emerging with regard to a proposed OPEC deal to cut oil production. Partly as a result of these doubts, crude oil prices for the past two weeks have virtually been in a state of free fall. Earlier this week, it was reported that OPEC’s oil output may have reached yet another record high ...

TAGS: API, Crude oil, EIA, Fundamental Analysis, OPEC, West Texas Intermediate, WTI

Crude oil remains pressured despite US inventory draw

James Chen, CMT October 26, 2016 6:17 PM

The West Texas Intermediate (WTI) benchmark for US crude oil prices surged on Wednesday after the Energy Information Administration (EIA) reported that US commercial crude inventories fell by 553,000 barrels last week. The markets had been expecting a substantial build in stockpiles, particularly after Tuesday’s report from the American Petroleum In...

TAGS: API, Brent crude, Crude oil, EIA, Fundamental Analysis, Oil, OPEC, US Dollar

Crude oil struggles to shake off oversupply concerns

Fawad Razaqzada September 14, 2016 1:42 PM

Oil prices have been extremely volatile of late, without making any significant progress in either direction. The long and short of it is that the stream of mostly negative news has helped to halt the recent rally, while ahead of this month’s informal meeting of the OPEC in Algeria not many people will want to be betting boldly on an oil price plung...

TAGS: API, Crude, Crude oil, EIA, Fundamental Analysis, Technical Analysis, WTI

Crude oil rebounds from critical price level

James Chen, CMT September 7, 2016 7:43 PM

Since Friday, the West Texas Intermediate (WTI) US benchmark for crude oil has been rebounding from a critical price juncture around the $43 level. This rise has been driven primarily by tentative hopes for an agreement among Russia, Saudi Arabia, and potentially other OPEC members to limit oil production in the interest of steadying crude prices. A...

TAGS: Crude oil, EIA, FOMC, Fundamental Analysis, russia, Saudi, Technical Analysis, US Dollar, West Texas Intermediate, WTI

Crude turns positive ahead of oil data

Fawad Razaqzada August 24, 2016 2:52 PM

Oil prices swung wildly into the positive territory yesterday. The rally eventually came to a halt around the $50 handle for Brent and $48 for WTI, and both contracts have been trending lower from these levels until an hour or so ago. It looks like oil prices have now found some short-covering support ahead of today’s official US crude oil inventori...

TAGS: API, Brent, Brent crude, EIA, Fawad Razaqzada, Fundamental Analysis, Oil, OPEC, Technical Analysis, WTI

Crude stocks fall more than expected, gold traders await FOMC minutes

Fawad Razaqzada August 17, 2016 5:32 PM

The official weekly crude oil inventories report from the US Energy Information Administration (EIA), released this afternoon, has confounded expectations in a positive way and oil prices have correspondingly surged to their best levels since early July. Meanwhile it is a game of wait-and-see as far the dollar is concerned and by extension buck-deno...

TAGS: Brent, Crude, Crude oil, dollar, EIA, Fawad Razaqzada, Fed, FOMC, Fundamental Analysis, Gold, Oil, Technical Analysis, WTI

AUD/CAD in focus as traders eye Aussie data, oil prices

Fawad Razaqzada July 13, 2016 7:22 PM

The Canadian dollar has endured a volatile day because of the slump in oil prices on the back of the latest US oil inventories report and a more hawkish Bank of Canada policy statement than expected. As we go to press, however, the Loonie is higher across the board, even though oil prices are significantly weaker on the day. For some CAD crosses, th...

TAGS: Abenomics, AUD, AUDCAD, Australian dollar, Bank of Canada, BOC, CAD, Canada, Canadian Dollar, Crude, Crude oil, EIA, Employment, Fawad Razaqzada, fibonacci, Fundamental Analysis, jobs, Oil, Technical Analysis

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WTI oil eases as refineries processed less crude WTI oil eases as refineries processed less crude

Crude higher on US oil inventories drawdown

Crude stocks may have snapped six-week build streak

Crude steady as DoE oil stocks build lower than API estimate

Crude oil at higher plateau ahead of US inventory data

Crude struggles despite surprise draw in US oil stocks

Crude oil outlook worsens as US inventories soar

Crude oil remains pressured despite US inventory draw

Crude oil struggles to shake off oversupply concerns

Crude oil rebounds from critical price level

Crude turns positive ahead of oil data

Crude stocks fall more than expected, gold traders await FOMC minutes

AUD/CAD in focus as traders eye Aussie data, oil prices

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