Oil Prices and Trade Wars

Oil Prices and Trade Wars

Brent oil soared Monday close to $81, reaching the highest level since November 2014 after OPEC and other global producers snubbed pressure from US President Donald Trump to dampen prices. At 0840 GMT, Brent North Sea crude for delivery in November soared to a peak of $80.94 per barrel. That was the highest level since […]

Can Oil Rally in 2020

Can Oil Rally in 2020

Global oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices, unless new projects are approved soon, according to the latest five-year oil market forecast from the International Energy Agency (IEA). The global picture appears comfortable for the next three years but supply growth slows considerably after that, […]

China Oil Demand Fell 5.4% Year over Year

China Oil Demand Fell 5.4% Year over Year

China’s apparent oil demand in July 2016 contracted 5.4% from the same month last year to 10.75 million barrels per day (b/d), according to an analysis of Chinese government data by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Refinery throughput in July averaged 10.72 […]

Oil Demand is Weak United States Oil Fund LP (ETF) (NYSEARCA:USO)

Oil Demand is Weak United States Oil Fund LP (ETF) (NYSEARCA:USO)

Oil Demand is Weak United States Oil Fund LP (ETF) (NYSEARCA:USO) UNTD ST OIL FUND closed down -0.300 at 9.770. Volume was 16% above average (neutral) and Bollinger Bands were 20% wider than normal. Open High Low Close Volume___ 10.100 10.210 9.750 9.770 31,031,824 Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish […]