Crude Oil Price Rise May Stall on EIA Drilling Data

Talking Points: Crude oil and gold prices rose after data showed slowing US wage growth Easing worries about steep Fed rate hikes lifted sentiment, hurt US Dollar Stock index futures hint at “risk-on” mood ahead, EIA drilling report due Crude oil prices shot higher as February’s US labor-market statistics showed wage inflation dropped back to […]

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 […]