Crude Oil (CL) Forecast, Page 1

U.S. West Texas Intermediate Crude Oil futures are trading lower early Wednesday after the U.S. said it would ensure crude markets are well supplied. President Trump also reiterated calls on OPEC to pump more oil and stop raising prices. Also weighing on prices was an industry report showing U.S. crude

WTI Crude OilThe WTI Crude Oil market rallied during trading on Tuesday, but it seems to be struggling with the idea of $73 a barrel. Eventually, I do believe that the market will be used to that price and we will be able to go higher, but we may be

GoldThe gold prices inched higher during the Monday’s session as it broke above the slightly resistive $1205 level. There is unlikely to be any big swings in the market and will continue to trade between the $1195 and $1215 level. With no signs of improvement in the Sino-US trade relations,

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading higher early Tuesday, while rapidly approaching four-year highs. Worries over tightening supplies are driving the price action.  The catalysts behind the tightening are looming sanctions against Iran, which are expected to limit world supply and unwillingness by OPEC

WTI Crude OilThe WTI Crude Oil market was up rather drastically during the day on Monday, reaching over 2% and gains as the OPEC ministers have chosen not to increase production, even though the Iranian sanctions are about to come into play. Because of this, the supply should tighten significantly,

U.S. West Texas Intermediate Crude Oil futures surged to its highest level since December 2014 on the back of tightening supply and after OPEC leaders signaled they won’t be immediately boosting production to make up for the expected shortfall from the Iranian sanctions which begin on November 1.November WTI Crude

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading sharply higher on Monday, shortly before the cash market opening after OPEC held its ground over the weekend and declined to agree to an immediate increase in output despite last week’s pressure by President Trump to do so.At

GoldThe gold market had an extremely bearish session during the Friday’s session as it rolled over to the $1200 level, which has been a major support level and extends down to the $1195 level. The market is highly synchronised to the USD and possibly to trade in a range bound

U.S. West Texas Intermediate Crude Oil futures settled higher last week and in a position to breakout to the upside. The price action was driven by concerns over supply due to the looming sanctions against Iran, which are expected to begin on November 1.Traders are also reacting to reports that

U.S. West Texas Intermediate and international-benchmark Brent crude oil finished higher last week with U.S. crude posting the biggest gains. Both futures contracts also challenged key technical levels on the monthly chart which indicated the longer-term uptrend was getting stronger.The rally was primarily supported by concerns over supply due to

U.S. West Texas Intermediate crude oil futures posted a wild outside move on Friday before settling higher but near the middle of the range. Prices surged to a new high for the year as investors shrugged off President Trump’s tweets calling for OPEC to do something about rising prices. The

WTI Crude OilWTI Crude Oil markets rally during the week, breaking above the $71.15 level. The numbers were somewhat bullish in the inventory during the week, but most importantly we are starting to see global tensions rise, and of course the sanctions against the Iranians will tighten supply. However, the

WTI Crude OilThis is a market that was slapped around in a couple of different ways during the day on Friday, and the $70 level offering support is a good sign, but at the same time it looks as if the $71.50 level is offering significant resistance. Overall, I think

U.S. West Texas Intermediate Crude Oil futures are trading higher shortly before the cash market opening on Friday. Traders appear to be shrugging off a series of tweets by President Trump on Thursday criticizing OPEC policy and calling for the cartel and its allies to address the issue of rising

U.S. West Texas Intermediate and international-benchmark Brent crude oil are recovering early Friday from yesterday’s reversal to the downside. Short-covering is behind today’s early strength as investors continue to digest the impact of comments from President Trump which drove down prices on Thursday.At 0932 GMT, November WTI Crude Oil is

WTI Crude OilThe WTI Crude Oil market has tested the vital $71.15 level to only fail before it was all said and done. This is an area that has been important previously and has been tested multiple times. We failed there, showing just how resistant this area is going to

The USD/CAD pair spiked to a daily high at 1.3015 in the American trading hours as the loonie weakened after reports claiming that the U.S. and Canada wouldn’t be able to reach a NAFTA deal this week. However, the pair lost its traction in the last hour and turned negative

Today, we will focus on the two pairs with the JPY an Oil. Let’s start with the EURJPY, where yesterday’s daily candle is a shooting star. It would be meaningless if not the fact that this candle is being present on an important horizontal resistance. What is more, when we

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading higher early Thursday, continuing to be supported by lower U.S. crude oil inventories and global supply worries. Specifically, helping to underpin prices is another drawdown in U.S. inventories and strong U.S. gasoline demand. Additionally, there are also signs

GoldThe gold prices rallied again during the Wednesday’s session but it found $1210 level as too resistive to continue to go higher. The gold market is likely to continue to consolidate in the tight range of $1198 and $1210 until there is any significant improvement in the global macro situation.