• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 3 hours Washington doctor removed from his post, over covid
  • 11 mins TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 3 hours Which producers will shut in first?
  • 1 hour Shale Legs
  • 17 mins Real Death Toll In CCP Virus May Be 12X Official Toll
  • 3 hours The Most Annoying Person You Have Encountered During Lockdown
  • 36 mins WE have a suicidal player in the energy industry
  • 7 hours How to Create a Pandemic
  • 1 hour KSA taking Missiles from ?
  • 7 hours Trump eyes massive expulsion of suspected Chinese spies
  • 10 hours Did Trump start the oil price war?
  • 15 hours Eight Billion Dollars Wasted on Nuclear Storage Plant
Alt Text

Barclays Slashes Oil Price Forecast On Demand Shock

Barclays slashed its oil price…

Alt Text

The Inevitable Outcome Of The Oil Price War

Russia, with Saudi Arabia either…

Alt Text

Oil Prices Could Fall Another 20%

Oil prices have tumbled as…

Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Premium Content

Crude Recovery Hinges On U.S.-China Trade Deal

U.S. West Texas Intermediate crude oil futures opened the new month under pressure, continuing the assault on prices that began on the third day of trading in October when the market was touching a multi-month high. At the start of the month the talk was bullish with predictions of another $10 to $20 to the upside. By the end of the month, the forces driving the market lower had wiped out 2-1/2 months of gains.

Traders blamed the weakness on a number of factors including the strong U.S. Dollar, stock market volatility and weakness, the escalating trade dispute between the United States and China, and rising global supply. The narrative that the market was “fragile” and that there were spare capacity issues seemed to disappear overnight. Instead, the focus shifted to the possibility that the market was oversupplied.

The rising U.S. Dollar was an issue in October because it hurt foreign demand for dollar-denominated commodities. The dollar was supported by rising interest rates which made the dollar a more attractive asset than other currencies. Essentially, it was the divergence in the monetary policies of the hawkish U.S. Federal Reserve and the other dovish major central banks that underpinned the greenback,

Safehaven buying also drove the U.S. Dollar to a 16-month high as stock market weakness encouraged global investors to seek shelter in the currency of the best performing country.

The steep sell-off in the U.S. equity markets and heightened…






Leave a comment
  • Viren on November 04 2018 said:
    This topic is good.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News