breaking news US oil rig Baker Hughes is 595 down from 594 previously

Crude oil

Crude oil is the most popular tradable instrument in the energy sector, providing exposure to global market conditions, geopolitical risks and the economy. The instrument is strategically used and located in the global economy. Crude oil has proven to be a unique option for traders given the volatility and effectiveness of swing trading and longer term strategies. Despite its popularity, crude oil is a very complex investment instrument, given the litany of oil price fluctuations, risks and policy impact stemming from OPEC. Short for the Organization of the Petroleum Exporting Countries, OPEC functions as an intergovernmental organization of 13 countries, helping to define and dictate the global oil market. through other instruments exhibited there. This includes energy stocks, USD/CAD and other investment options. Crude oil itself is traded on a duality of markets, including West Texas Intermediate Crude (WTI) and Brent. Brent has been the most widely used index in recent years, while WTI is more heavily traded on futures contracts at the time of writing. Apart from geopolitical events or OPEC decisions, crude oil can move in different ways. The most basic is simple supply and demand, which is affected by global production. Rising industrial production, economic prosperity and other factors all play a role in crude prices. By extension, recessions, lockdowns or other stifling factors can also influence crude prices. For example, excess supply or subdued demand due to the aforementioned factors would cause crude prices to decline. This is due to traders selling crude oil futures or other instruments. If demand increases or production plateaus, traders will bid higher and higher on the rough, driving up prices.

Crude oil is the most popular tradable instrument in the energy sector, providing exposure to global market conditions, geopolitical risks and the economy. The instrument is strategically used and located in the global economy. Crude oil has proven to be a unique option for traders given the volatility and effectiveness of swing trading and longer term strategies. Despite its popularity, crude oil is a very complex investment instrument, given the litany of oil price fluctuations, risks and policy impact stemming from OPEC. Short for the Organization of the Petroleum Exporting Countries, OPEC functions as an intergovernmental organization of 13 countries, helping to define and dictate the global oil market. through other instruments exhibited there. This includes energy stocks, USD/CAD and other investment options. Crude oil itself is traded on a duality of markets, including West Texas Intermediate Crude (WTI) and Brent. Brent has been the most widely used index in recent years, while WTI is more heavily traded on futures contracts at the time of writing. Apart from geopolitical events or OPEC decisions, crude oil can move in different ways. The most basic is simple supply and demand, which is affected by global production. Rising industrial production, economic prosperity and other factors all play a role in crude prices. By extension, recessions, lockdowns or other stifling factors can also influence crude prices. For example, excess supply or subdued demand due to the aforementioned factors would cause crude prices to decline. This is due to traders selling crude oil futures or other instruments. If demand increases or production plateaus, traders will bid higher and higher on the rough, driving up prices.
Read this term rebounded from yesterday’s decline and is trading from $2.54 to $108.54. There are mixed signs on the chart, with the consistent uptrend being the most dominant feature. But his week’s bearish engulfing candle and his inability to break above the 50-61.8% Fibonacci are negative.

Here’s what the forward curve looks like for next year. There is a new pullback going on today, which (to me anyway) suggests further market tightening.