OPEC will hold another meeting on December 5-6. This article examines the possible outcomes of this meeting in the context of one of the primary influence factors.
Tag - oil
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Oil traders are awaiting the release of the weekly crude oil stocks change at 17:30 MT time.
Today, the oil prices may move on the release of crude oil inventories at 18:00 MT time.
This week Brent has reached the highest levels since the end of September. It looks like oil has bottomed. Yesterday the price met resistance at 61.80 (100-day MA).
According to yesterday’s news OPEC is considering further production cuts. The next meeting of oil-producing countries is scheduled for December 5-6. The announcement pushed the oil prices up yesterday.
Heads up to the release of weekly crude oil inventories at 17:30 MT!
Technically WTI is testing levels below the 200-week MA. This makes it vulnerable for the retest of June and August lows.
Crude oil inventories will be out at 17:30 MT time
What’s next for oil? In this article, we try to analyze various fundamental factors to answer this question.
The updates from the UN General Assembly continue coming and may provide us some trade opportunities. Check the key events in the report!
The shaky sentiment in the market keeps being affected by the oil news and the situation surrounding Brexit…