something interesting

<  BACK TO Market Analysis

Oil prices fall

FOREX_Oil-prices-fall_FXPIG

Oil prices edged down Tuesday for back-to-back session declines on renewed concerns about mounting U.S. crude production.On the New York Mercantile Exchange, March West Texas Intermediate crude CLH8, -1.45% fell 65 cents, or 1%, to $64.91 a barrel. Prices settled Friday at their highest since December 2014. March Brent crude LCOH8, -0.60% the global benchmark, lost 45 cents, or 0.7%, to $69.01 a barrel on the ICE Futures Europe exchange. U.S. crude production could “get very near” the symbolic 10 million barrel a day mark this week, according to brokerage PVM Oil Associates Ltd.

Prices had been pushed down at the start of the week in response to an increase in the number of rigs drilling for oil in the U.S., which is generally a proxy for activity in the sector.

A slightly stronger U.S. dollar has also weighed on prices this week. The U.S. currency has had, overall, its worst 12 months since 2011, falling to three-year lows last week and bolstering crude prices.

Oil prices have hit three-year highs this month on the back of strong demand, geopolitical risks, a weaker U.S. dollar and efforts by the Organization of the Petroleum Exporting Countries to curb supply. OPEC and 10 producers outside the cartel, including Russia, agreed at the end of last year to extend an agreement to hold back crude output by 1.8 million barrels a day through to the end of this year. The accord, first struck in late 2016, was meant to rein in a global supply glut that has weighed on prices for over three years and bring global inventories back down to the last five-year average.

Oil market observers are looking ahead to Wednesday and the U.S. Energy Information Administration’s weekly report on U.S. crude inventories, which have fallen for 10 straight weeks, and production data.

Among other energy contracts, February gasoline RBG8, -1.41%  fell 1.1% to $1.9122 a gallon, while February heating oil HOG8, -1.42%  lost 1.2% to $2.0786 a gallon.

March natural gas NGH18, +1.42% which is now the front-month contract, rose 2.2% to $3.237 per million British thermal units.

Source:marketwatch.com

Oil prices edged down Tuesday for back-to-back session declines on renewed concerns about mounting U.S. crude production.On the New York Mercantile Exchange, March West Texas Intermediate crude CLH8, -1.45% fell 65 cents, or 1%, to $64.91 a barrel. Prices settled Friday at their highest since December 2014. March Brent crude LCOH8, -0.60% the global benchmark, lost 45 cents, or 0.7%, to $69.01 a barrel on the ICE Futures Europe exchange. U.S. crude production could “get very near” the symbolic 10 million barrel a day mark this week, according to brokerage PVM Oil Associates Ltd.

Prices had been pushed down at the start of the week in response to an increase in the number of rigs drilling for oil in the U.S., which is generally a proxy for activity in the sector.

A slightly stronger U.S. dollar has also weighed on prices this week. The U.S. currency has had, overall, its worst 12 months since 2011, falling to three-year lows last week and bolstering crude prices.

Oil prices have hit three-year highs this month on the back of strong demand, geopolitical risks, a weaker U.S. dollar and efforts by the Organization of the Petroleum Exporting Countries to curb supply. OPEC and 10 producers outside the cartel, including Russia, agreed at the end of last year to extend an agreement to hold back crude output by 1.8 million barrels a day through to the end of this year. The accord, first struck in late 2016, was meant to rein in a global supply glut that has weighed on prices for over three years and bring global inventories back down to the last five-year average.

Oil market observers are looking ahead to Wednesday and the U.S. Energy Information Administration’s weekly report on U.S. crude inventories, which have fallen for 10 straight weeks, and production data.

Among other energy contracts, February gasoline RBG8, -1.41%  fell 1.1% to $1.9122 a gallon, while February heating oil HOG8, -1.42%  lost 1.2% to $2.0786 a gallon.

March natural gas NGH18, +1.42% which is now the front-month contract, rose 2.2% to $3.237 per million British thermal units.

Source:marketwatch.com

lastest Articles

Market Analysis
Cloudy Skies Remain For AUD/USD Into The Fed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold retreats after being unable to break above $1250
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (17.12.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD May Struggle To Rally On Any Fed Dovishness
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD extends the bounce towards 1.1350
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Weekly Results
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar Higher Ahead of Crucial Fed Meeting
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Control
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 14.12.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Risk Control
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
PAMM News
Managed Forex Accounts Daily Results (13.12.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Currencies struggle for direction despite Draghi and Trump comments
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -13.12.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (12.12.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
USD Bank Wire Notice
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
ECB will say goodbye to quantitative easing, but when will it hike rates?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom:Knowing Your Self
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY- 12.12.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (11.12.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Personalizing Loses
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY-11.12.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (10.12.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY- 10.12.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Amateurs vs Professionals
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Forex Today: Risk-off extends into Asia, UK monthly GDP – key focus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
BREXIT - Margin Requirement
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: The Game
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Gold retreats from 5-week tops amid a modest USD rebound
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (04.12.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
US National Mourning day Trading Schedule
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY- 04.12.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Keep it Simple
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Breaking: GBP/USD jumps on ECJ opinion that the UK can revoke Article 50 unilaterally
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (03.12.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD fails to preserve gains, calms down below mid-1.27s
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Your Friend
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY- 03.12.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Weekly Results
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar Looking for Economic Guidance Ahead of Busy Week
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: You are what you do
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
FOMC to press on with hikes, cautiously
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (29.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Dollar Tests Trend-Line Support Ahead of FOMC Minutes
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Risk and Reward
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY- 29.11.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Fed's Powell: Estimates of neutral policy rate, maximum employment highly uncertain
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Bull and Bear
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
EUR/USD: On the defensive
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (27.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today - Sterling falls on Brexit vote worries, Trump weighs in
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Move on
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY -27.11.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (26.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Dragged down by the marked divergence in growth momentum
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
Forex Trading Wisdom: Don't lose
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
FOREX Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 26.11.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Dollar Higher as Trade War Concerns Fuel Risk Aversion
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed PAMM Accounts - Weekly Results
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Bank of England: Waiting on Brexit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom - Small Profits
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
EUR/USD tumbles back closer to weekly lows on dismal Euro-zone PMIs
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (21.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
UK PM May Spokesman: UK has no further demands in Brexit negotiations ahead of EU summit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold moves back closer to Wednesday’s 2-week tops
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB Minutes to reveal little detail about future policy
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
Thanksgiving Trading Hours
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 21.11.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom: The Goal
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Forex Today: Antipodeans bounce amid quiet Asia, European politics in spotlight
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Technical Analysis: Early Wednesday buyers should watch out for falling bears
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (20.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY- 20.11.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom:Clear Markets
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Forex Today: Aussie weakest in Asia risk-off, eyes on BOE inflation report hearings
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (19.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Fed's Williams: Fed to continue hiking rates along gradual path
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold ticks lower to $1220, though downside remains limited
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY (19.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Company News
SKRILL Policy Change
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Dollar Lower Ahead of Crucial Week for Brexit and Italian Budget
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Weekly Results
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom: Time Off
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Draghi’s speech: Slowdown has raised questions about strength of growth outlook
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FOREX Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY (16.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD – Euro ticks lower, investors eye U.S retail sales
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom: Never Happens
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY (15.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (14.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom: Breaking Rules
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
Gold Prices May Fall on US CPI Uptick, Hawkish Powell Comments
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD gyrates around 1.1300 ahead of EMU GDP, US CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
FX Today: Pound sees two-way trading in Asia, Eyes on German GDP, Brexit Cabinet meeting, UK CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (13.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Tech Targets: EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/JPY - 13.11.2018
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Risk rebounds on easing US-China trade woes; UK wages, ZEW – Key
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
PAMM News
Managed Forex Accounts Daily Results (12.11.2018)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Dollar Flying High on Hawkish Fed Statement
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Quips of Wisdom
FOREX Trading Wisdom: Trading Rule #10
https://en.gravatar.com/userimage/34011725/cac48086660b253b9c1e53a8b4a23604.png
Market Analysis
GBP/USD challenges 1.3000 post-UK data
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
USD/JPY retreats further from 5-week tops, at low point of the day
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613