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WTI Bursts to a 6-Month High, Bulls May Target 70.00 Next WTI Bursts to a 6-Month High, Bulls May Target 70.00 Next

Matt Weller, CFA, CMT April 22, 2019 6:15 PM

TAGS: Crude, Crude oil, West Texas Intermediate, WTI

WTI Flies High During A Typically Strong Month

Matt Simpson April 17, 2019 6:52 AM

A potential bull flag is forming on WTI near its 7-month high. Whilst the August lows currently stand in its way, we think a break above $65 is eventually on the cards given the strength of the trend.

TAGS: Oil, West Texas Intermediate, WTI

WTI Bulls May Still Have Gas in the Tank After a 15-Week, 50% Rally

Matt Weller, CFA, CMT April 9, 2019 6:40 PM

Oil prices have been on an absolute tear since bottoming around Christmas: West Texas Intermediate (WTI) has gained more than 50% over the past 15 weeks, with Brent experiencing a 41% rally of its own over the same period.

TAGS: Oil, OPEC, West Texas Intermediate, WTI

WTI Looks Firm As We Enter A Typically Strong Month

Matt Simpson April 4, 2019 4:57 AM

WTI stands near a 5-month high and, whilst there are near-term signs of exhaustion, market positioning, technicals and seasonality suggest further gains could eventually unfold.

TAGS: Oil, Technical Analysis, West Texas Intermediate, WTI

Oil Dumps Back Toward $50 as OPEC Punts Production Decision

Matt Weller, CFA, CMT December 6, 2018 4:54 PM

As my colleague Fawad Razaqzada noted earlier today, “it is not a question of whether [OPEC] will decide to cut supplies or not, but by how much.”

TAGS: Oil, OPEC, Technical Analysis, West Texas Intermediate, WTI

Crude oil unable to buck heavy pressure

James Chen, CMT June 22, 2017 8:14 PM

For the past month, the US crude oil benchmark, West Texas Intermediate, has been plummeting within a clearly-formed descending line, complete with short, intermittent relief rallies. After extending this sharp plunge down to key support around the $42 handle this week, Thursday saw another attempt at a modest rebound rally, which ultimately sputter...

TAGS: Crude oil, Fundamental Analysis, Technical Analysis, West Texas Intermediate

USD/CAD bounces off major support after sharp oil-driven move

James Chen, CMT May 15, 2017 8:10 PM

USD/CAD took a quick dive early on Monday as the US dollar continued its recent pullback and the energy-linked Canadian dollar was driven higher by surging crude oil prices after Saudi Arabia and Russia agreed to extend oil production cuts. As crude oil rose sharply, a corresponding rise in the Canadian dollar helped push USD/CAD down to major suppo...

TAGS: Canadian Dollar, Crude oil, forex, Fundamental Analysis, FX, Technical Analysis, US Dollar, USD/CAD, West Texas Intermediate

Crude oil on shaky ground as OPEC-led deal remains at risk

James Chen, CMT March 27, 2017 6:10 PM

US crude oil, as represented by the West Texas Intermediate benchmark, fell on Monday to retest the key $47-area support level. This major technical support marks the year-to-date lows, which have already been tested twice within the past two weeks.

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

Crude oil remains pressured on output/demand uncertainty

James Chen, CMT March 16, 2017 8:33 PM

US crude oil remained pressured on Thursday after a recent rebound from this week’s year-to-date lows. This pressure persisted despite a weaker dollar post-FOMC and a surprise draw in US crude oil inventories last week, the first decline in ten weeks.

TAGS: Crude oil, dollar, FOMC, Fundamental Analysis, Oil, Technical Analysis, West Texas Intermediate, 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

How long will crude oil's OPEC-optimism last?

James Chen, CMT October 3, 2016 8:09 PM

Continued optimism over last week’s reported deal struck by members of the Organization of the Petroleum Exporting Countries (OPEC) at an energy conference in Algeria has boosted crude oil prices sharply. Oil surged even further on Monday after Iranian President Hassan Rouhani reportedly called on non-OPEC producers to contribute to lowering global ...

TAGS: Brent crude, Crude oil, Fundamental Analysis, Oil, OPEC, Technical Analysis, West Texas Intermediate, WTI

Oil higher ahead of OPEC decision

Fawad Razaqzada September 28, 2016 5:28 PM

Crude prices jumped in reaction to the latest weekly US crude stockpiles data but then quickly went into reverse gear, before bouncing back once again. Traders were in no mood to take any chances ahead of the conclusion of talks between the OPEC and non-OPEC members in Algeria, especially given how headline-driven prices have become.

TAGS: Brent, Brent crude, Crude, Crude oil, Iran, Oil, OPEC, output freeze, Saudi, West Texas Intermediate, 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

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WTI Bursts to a 6-Month High, Bulls May Target 70.00 Next WTI Bursts to a 6-Month High, Bulls May Target 70.00 Next

WTI Flies High During A Typically Strong Month

WTI Bulls May Still Have Gas in the Tank After a 15-Week, 50% Rally

WTI Looks Firm As We Enter A Typically Strong Month

Oil Dumps Back Toward $50 as OPEC Punts Production Decision

Crude oil unable to buck heavy pressure

USD/CAD bounces off major support after sharp oil-driven move

Crude oil on shaky ground as OPEC-led deal remains at risk

Crude oil remains pressured on output/demand uncertainty

Crude oil outlook worsens as US inventories soar

How long will crude oil's OPEC-optimism last?

Oil higher ahead of OPEC decision

Crude oil rebounds from critical price level

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