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Oil trading - WTI may down below $60 this week

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  • Oil trading - WTI may down below $60 this week

    OPEC may boost oil supplies shortly is the latest expectations. The oil prices direction was up for 4-months starting from Christmas and rise from $42.35 to $66.57. In the last couple of days there are new factors that affect the oil prices. The first and most important is OPEC expectations for boost of oil supplies. The second is the sanction over Iran oil export. Iran may have options to export some low volumes oil after the new sanction.
    Third and fourth main factors that affect over the oil prices are Libya and Venezuela. Libya may start to export normally oil after Haftar success in the war.
    At the same time the bad news come from Venezuela from large exporter to start import oil due to electric problems and sanctions.
    As overall World-Signals.com expects to see WTI price at levels below $60 in the coming week.
    World-Signals.com - Forex, Stock, Energy and Metal signals to the world

  • #2
    Oil is one of the best commodities on the forex market. I am trading oil from a long time and I am doing a great business in this regard. My oil analysis always pay me heavy rewards in the form of losses and profit. I have a strnegth of covering up losses quickly.

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    • #3
      From what I can see that WTI oil doesn't fall to that amount you really talking about here, but anyway it's just something valuable still. Why you are not talking about Brent here at all ? I can see something like Brent in post USSR territory mainly of course.

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      • #4
        It's quite bearish for now and I think it will continue depreciating.

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        • #5
          The most distinctive feature in energy is high price movements.

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