Oil Market Analysis


WTI hits a 17-year low as investors await new economic data
WTI hits a 17-year low as investors await new economic data
This week has kicked off with a new precedent. It isn’t the volatile performance of stocks, bonds, or currencies that are grabbing all the attention, but the moves in oil price...
Oil capitulates below $40 amid intra-OPEC+ price war
Oil capitulates below $40 amid intra-OPEC+ price war
The $40/bbl floor has given out below Brent Oil, which is now trading around its lowest levels since February 2016, after Saudi Arabia slashed its official prices by the most in...
ExxonMobil Wave Analysis – 28 February, 2019
ExxonMobil Wave Analysis – 28 February, 2019
ExxonMobil recently broke below the powerful multi-year round support level 56.30 (which reversed the price in the middle of 2010 as can be seen from the monthly ExxonMobil chart bel...
Oil prices set to decline further if OPEC+ doesn’t act
Oil prices set to decline further if OPEC+ doesn’t act
Brent crude made a new 13-month low on Monday around $53.11 on news that potentially deeper OPEC+ cuts may not occur soon. 
Brent Crude Oil Wave Analysis – 09 Janaury, 2019
Brent Crude Oil Wave Analysis – 09 Janaury, 2019
Brent Crude Oil recently reversed down from the resistance area lying between the resistance levels 70,00 and 68.80 (top of the previous sharp wave (A) from September) and the upper ...
Oil to stay elevated over heightened geopolitical fears
Oil to stay elevated over heightened geopolitical fears
2020 kicked off with a spike to Oil prices, as a sudden escalation in geopolitical concerns permeated market sentiment following the US airstrike in Iraq. WTI crude briefly brea...
Brent Crude Oil Wave Analysis – 18 October, 2019
Brent Crude Oil Wave Analysis – 18 October, 2019
Brent Crude Oil continues to rise inside the short-term impulse wave (iii) – which belongs to the impulse wave 3 from the start of October.
WTI Wave Analysis – 9 October, 2019
WTI Wave Analysis – 9 October, 2019
WTI recently reversed up sharply from the support area lying between the powerful support level 52.00   (which has been reversing the price from January) and the lower dail...
Brent Crude Oil Wave Analysis – 4 October, 2019
Brent Crude Oil Wave Analysis – 4 October, 2019
Brent Crude Oil recently reversed up from the support area located between the key support level 56,00 (which stopped the previous impulse wave 1 in August) and the lower daily Bolli...
Oil weakens as rapid Saudi output recovery seen
Oil weakens as rapid Saudi output recovery seen
Relief is set to sweep across financial markets after Saudi energy minister pulled down the threat of an escalation in geopolitical tensions in the region, and by stating the Oil pro...

Analysis of the Latest Oil Market Events

Oil is tangible and one of the most called-for commodities. USA, China and Japan are the largest consumers and importers of oil in the world. Any events and phenomena that trouble supply of “black gold” influence on its price on the oil market. Events such as weather conditions, war, terrorism, political disorders, and the decisions made by the Organization of the Petroleum Exporting Countries (OPEC) can cause its rise or fall in prices on the market. Oil trading refers to a variety of industries and, therefore, is often exposed to changes in the geo-political factors, as well as concerning the behavior of traders.

Oil Market and Analytical Standpoints Regarding this Kind of Market

The oil market is one of the most volatile, respectively, one of the most attractive in terms of investment. Although the trading of oil is a hard task, therefore, for a qualitative oil market’s analysis and oil’s rate is necessary to lend an attentive ear to the standpoints of the leading analysts of the market.

The crude oil technical analysis helps to determine total oil consumption, including the inventories, sales data and oil reports (EIA petroleum status reports). Traders can keep track of these reports and oil market news for better comprehension of the factors that affect the consumption of oil. Global oil market also has a direct effect on the Forex market by means of the germaneness with the dollar. This is due to the fact that the United States is one of the biggest breadwinners and consumers of this raw material. Change in the oil market price affects the intrinsic value of the dollar. In turn, the currencies that are in tandem with the U.S. currency, "look" on the dollar.

As far as oil is constantly taken into account in global business and trade, details that relates to its supply or distribution, will affect reliably the foreign exchange market, including the concomitant oil market analysis. That is why the terrorist attacks or natural disasters like Hurricane "Katrina" that threaten the regular supply of oil, often cause an immediate reaction of the Forex market.

Oil Market Analysis

The aforementioned events are something like shock to the market, making the oil forecast and analysis more difficult for the Forex market players. A more typical scenario usually consists of "fine" movements that occur in inter market relationships when oil trading, which only hint at the fact that the prices might change.

If the trader does not use inter market analysis, very likely he won’t be able to evaluate all these relationship, as well as the effects they exert on the markets, so long as this influence is not greatly substantially.

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree