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🛢️ CRUDE OIL - 17% Higher Since our PERFECT Post 🦉💙 Our previous Oil post was perfectly on support. It is now over 17% higher since our entry. Even more impressively, you may go back to our post on March 3rd: also here: and here: Pure perfection..FXPROFESSOR style OIL PRICES: War in Ukraine is the biggest issue here. Inflation equally the other big issue. Then again you know a lot about these 2 factors but there is a third one: Saudi Arabia Considers Accepting Yuan Instead of Dollars for Chinese Oil Sales Talks between Riyadh and Beijing have accelerated as the Saudi unhappiness grows with Washington. Unfortunately we must keep our eyes open on all these and pray for the best. Situation is not a good one. Keep safe people. One Love, the FXPROFESSOR
TVC:USOILLong
by FX_Professor
What will it take for OPEC+ to increase its oil output?The worsening oil supply shortage in the wake of the Russian invasion of Ukraine has sent pump prices to record highs in recent weeks, sparking fears of a catastrophic global oil crisis and soaring inflation. Despite these concerns, the Organization of Petroleum Exporting Countries (OPEC) and other non-OPEC oil-exporting nations, a global oil cartel known as OPEC+, are still holding back on boosting production, downplaying the impact of the conflict on global oil supply and demand and stressing that the current market volatility is triggered only by geopolitical developments. Why are oil prices high? Economic sanctions imposed against Russia have caused oil importers overseas to turn down Russian oil as "no one wants to be seen buying Russian products and funding a war against the Ukrainian people,” a New York Harbor trader was quoted by Reuters as saying earlier this month. Even when not many countries use Russian oil, pump prices have surged in recent weeks as the absence of millions of barrels of Russian oil from the global supply chain prompted importers of Russian crude like Europe to seek the commodity elsewhere such as from OPEC countries like Saudi Arabia. These leaves other traders scrambling to secure supply. How OPEC plays into the issue OPEC members — including Saudi Arabia, the United Arab Emirates and Venezuela — account for about 40% of the world’s crude oil production and 60% of petroleum traded globally, according to the US Energy Information Administration. In 2020, as demand for oil plummeted when most countries were under lockdown, OPEC+ agreed to a deal with former US President Donald Trump to slash nearly 10 million barrels of oil per day, or close to 10% of the global oil output. The world’s top exporters eventually started beefing up production by 400,000 barrels a day since August 2021 as economies reopened. Most recently, with the Russia-Ukraine war threatening a global oil supply crunch, the focus has again turned to OPEC+ to ramp up output. However, the group in its recent meeting on March 2 — about a week since Russia started invading Ukraine — reaffirmed its commitment to only increase its crude oil output by 400,000 bpd. “It was noted that current oil market fundamentals and the consensus on its outlook pointed to a well-balanced market, and that current volatility is not caused by changes in market fundamentals but by current geopolitical developments,” OPEC+ said in a statement. UAE pushes for increased output Yousuf Al Otaiba, the UAE's ambassador to Washington, last week said the country “favor production increases and will be encouraging OPEC to consider higher production levels.” The statement caused oil prices to fall at most in two years on Thursday, with Brent crude futures falling 13.2% at $111.14 a barrel, the biggest one-day drop since April 21, 2020. Prices have continued to fall on Monday, with Brent prices falling to $107.59 a barrel for May contracts and WTI crude slipping to $103.42 for April contracts. Oil prices have also retreated on expectations that some producers may accelerate production. Will OPEC+ boost output? In late January, prior to the Ukraine conflict, the EIA had predicted a nearly 2.7 million bpd increase in OPEC’s oil output this year, the largest year-over-year jump in production since 2004. Energy research firm Rystad Energy most recently estimated that Saudi Arabia, the UAE, Iraq and Kuwait can bring about 4 million bpd of spare capacity into the market within three to six months, potentially easing the crisis. However, that amount still falls short of Russia’s 7 million bpd in oil exports, according to Reuters. In an interview with Bloomberg News last week, OPEC’s outgoing general secretary Mohammad Barkindo said there is "no physical shortage of oil” amid the Ukraine crisis, adding that the physical market supplies are guaranteed. Barkindo’s statement underscores the OPEC+’s likelihood of only beefing up production once signs of a supply crunch become more imminent. One factor that could prompt the cartel to yield to calls to accelerate output is the potential for a demand destruction. Oil demand may soon peak and decline when retail fuel prices become relatively expensive and as the prices of other consumer goods skyrocket. The transition to renewable energy sources and the shift to new-energy vehicles may also cause oil demand to weaken, especially as Western countries and other economic giants like China accelerate their climate action targets. The potential end to the Russia-Ukraine dispute could likewise stabilize oil prices and encourage OPEC+ to boost output as global supply chains and activities resume, although the likelihood of this happening in the near term is relatively slim as Western countries have refused to directly intervene over fears of wide-ranging “consequences” from Vladimir Putin.
BLACKBULL:WTI
by BlackBull_Markets
3
WTI Crude oil set to gain moreThere is a potential push towards 144, Following Russia sanctions. Russia is the third largest exporter of oil according to Investopedia analysis posted on March 8, 2022. This will create scarcity of the product in the market hence more demand which will result in higher prices in the near future.. RSI indicator shows an overbought figure at 71.94 according to Monthly Timeframe but it ain't stopping anytime soon. sellers at 144, that's where it will most likely take a breather if it moves past current resistance at 128(March Monthly high). This is not a financial advice do your own due diligence. All the best
TVC:USOILLong
by alonso780
1
WTI oil - Price drops due to release of the SPRWTI oil rose to as high as 129.98 USD on 7th March 2022. However, today USOIL fell to as low as 115.51 USD. Currently, the price of USOIL trades around 170 USD price tag. We remain bullish on oil as we expect bullish factors to persist for a while longer. However, we also remain very cautious as we think any progress in peace talks between Russia and Ukraine could possibly put pressure on rising oil prices. Technical analysis - daily time frame RSI exhibits extreme strength of the bullish trend as it holds for so long in the overbought territory. However, this raises a warning signal. MACD and Stochastic remain bullish. DM+ and DM- show that same condition in the market. ADX grows which suggests the trend is gaining strength. Overall, the daily time frame is bullish; however, it starts to flash first warning signs. Technical analysis - weekly time frame RSI is overbought. MACD and Stochastic are bullish. DM+ and DM- are also bullish. ADX increases which suggests the trend is gaining momentum. Overall, the weekly time frame is bullish. Please feel free to express your own ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not serve as a basis for taking any trade action by an individual investor. Your own due diligence is highly advised before entering trade.
TVC:USOILLong
by Tradersweekly
USOIL down 17.40%USOIL was down 17.40% yesterday in a sell-off caused by the news that OPEC is considering higher production levels. The United Arab Emirates said it would support boosting oil supply because of the disruptions caused by sanctions imposed on Russia after Ukraine`s invasion. President Biden imposed an immediate ban on Russian energy imports. UK would phase out imports by the end of 2022. Only OPEC Can Help The West Replace Russian Oil but until we see that, i think USDOIL will have another rally to $127 - $130. I think the market overreacted to the news.
TVC:USOILLong
by TopgOptions
2
OIL TRADE - READY TO BUY AT $110 PULL BACK!OIL TRADE-> I am counting a nice 5 waves up, the wave 4 pulled back to 38%, the A wave did the 61% of wave 5 so far.. looking for a 1 to 1 projection of the C wave which matches a 50% retracement of the entire structure.... Therefore, TP to enter long is $110! The NEXT wave 3 is going to be absolute firework parabolic MAYHEM o.0 I'm PROJECTING 185 to 200, EASY!!!! 70% to 80% reward in quick time sounds like a no-brainer in comparison to risk/reward to me. (Unfortunately, your stop loss would need to be around $98..) DYOR, GOOD LUCK!
OANDA:WTICOUSDLong
by davy101
USOIL 128.00 6.36 % LONG IDEA * CONT. PTTNS & PRICE ACTIONHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE. LOOKING AT THE USOIL * The ENERGY is currently trading in an uptrend , just consolidated and rejecting at the base of this structure, fundametals went in and saw the ENERGY sour to $132 highs. - Short term the pair is currently at the supply zone could go lower but looking for possible continuation with the bulls with evrything happening fundametally wouldnt be surprised to see a challenge of the 2008 high of $ 145.85 in the near future but well we are not there yet. - The energy saw a break and close above a structure possibly signaling that we could see some continuation with the bulls. - Looking for LONG entries on the THE CRUDE swing should all the rules of the formation be met but we might see some correction before this comes to play. ******* CRUDE OIL INVENTORIES TOMMORROW will definitely be interesting, the increase in the oil is actually MORE than expected @ -2.597 M which implies weaker demand and the energy could react BEARISH which support the idea of a correction and delay before continuation. So lets see how it goes IF THIS IDEA ASSISTS IN ANY OR IF YOU LIKE THIS ONE SMASH THAT LIKE BUTTON & LEAVE A COMMENT. ALWAYS APPRECIATED ____________________________________________________________________________________________________________________ * Kindly follow your entry rules on entries & stops. |* Some of The idea's may be predictive yet are not financial advice or signals. | *Trading plans can change at anytime reactive to the market. | * Many stars must align with the plan before executing the trade, kindly follow your rules & RISK MANAGEMENT. _____________________________________________________________________________________________________________________ | * ENTRY & SL -KINDLY FOLLOW YOUR RULES | * RISK-MANAGEMENT | *PERIOD - SWING TRADE
TVC:USOILLong
by PULEMokhothu
1
CRUDE OIL, Paramount Breakouts + Growing Demand Means Bullish!Hello, Welcome to this analysis about WTI CRUDE OIL and the monthly timeframe perspectives. Since the Russia-Ukraine-Conflict began we can see many countries upfront with the E.U. sanctioning Russia and preventing Oil exports out of Russia, cutting off all supply chains including oil. These developments mean there is a growing demand for oil and gas on the world market because Russia normally holds 12% of the whole world's oil and gas exports and therefore countries need to move to other sources of oil and gas and as countries, especially in the E.U. have normally almost 40% of their oil and gas imported from Russia there is also a falling supply combined with growing demand on the world market showing the fuel for the steep rising in prices we have seen so far in the recent times. In my chart, you can watch how WTI CRUDE OIL already completed this massive descending-triangle-formation, and now recently with these developments also moved with heavy volatility above the major 10-Year-Resistance marking in my chart. All these developments point to a continuation of the bullish volatility that was established over the recent days, also the main descending-triangle-target-zone marked in my chart has an increased likelihood to be reached with the current dynamics. In this manner, thank you for watching the analysis, all the best! Information provided is only educational and should not be used to take action in the markets.
TVC:USOIL
by VincePrince
10
Short $USO?I know no one thinks oil is going to go lower after the run we've been having and the fact that there's a shortage of oil supply due to the conflict with Russia/Ukraine, but the chart is telling me a different story. I don't know what could cause a pullback, but I could see $USO falling back the $56-62 support levels sometime over the next few weeks before continuing higher. Definitely a high-risk trade and I'm playing it through options... let's see how it plays out.
AMEX:USOShort
by benjihyam
4