Crude Oil Prices Look to API Inventory Data for Direction

Talking Points: Crude oil prices drop, seemingly correcting after Friday’s surge Gold prices rise amid pre-positioning for Friday’s Yellen speech API inventory flow report, Trump rally in Arizona now in focus Crude oil prices dropped even as Libya halted delivers from the Shahara field, its largest. Compliance with the OPEC-led production cut accord reportedly weakened […]

Crude Oil Price Forecast: Counter Trend Pattern Favors Pending Upside

Highlights: Crude Oil Technical Strategy: Crude Oil downside expected to be limitedon price pattern US Stockpiles continue trend of declining despite build in gasoline and Cushing stockpiles Next technical Bullish trigger set at lower high from May at $ 50.00, support near $ 47.75 IGCS Sentiment highlight: Sharp rise in short positions provides contrarian signal […]

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Crude Oil Set to Consolidate After Sharp Run-Up

Fundamental Forecast for Oil: Neutral Inventory data supports US crude oil but market nears a congested area. Further US intervention in Syria may limit any downside, while the monthly OPEC report mid-week may provide more market colour. See the DailyFX Economic Calendar and see what live coverage for key risk event impacting FX markets is […]