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Crude Oil

Crude Oil is a naturally occurring liquid fossil fuel resulting from plants and animals buried underground and exposed to extreme heat and pressure. Crude oil is one of the most demanded commodities and prices have significantly increased in recent times. Two major benchmarks for pricing crude oil are the United States’ WTI (West Texas Intermediate) and United Kingdom’s Brent. The differences between WTI and Brent include not only price but oil type as well, with WTI producing crude oil with a different density and sulfur content. The demand for crude oil is dependent on global economic conditions as well as market speculation. Crude oil prices are commonly measured in USD. Although there have been discussions of replacing the USD with another trade currency for crude oil, no definitive actions have been taken.

Crude Oil Price Chart (Brent)

Crude Oil Price Chart (WTI)

Crude Oil News & Analysis

Gold Waiting for Trigger Near $1300, US Dollar Looks Vulnerable
Gold prices are waiting for a trigger to set off momentum near the $1300 figure while US Dollar technical positioning warns a reversal lower may be ahead.
Crude Pinned to 19 Year Trendline
Crude Oil Flat-Lining, SPX 500 Flirting with Monthly Range Top
Crude oil prices are flat-lining after attempting a cautious recovery while the SPX 500 is flirting with resistance marked by the top of the monthly trading range.
Copper falls 3.1% on Goldman’s Price Forecast & Faded Sentiment
Copper trades lower today following Goldman Sachs price forecast. Declines from cost deflation, pertaining to a stronger USD and slowed growth, are extended.
Gold Stalls Below 1300, SPX 500 Locked in Choppy Consolidation
Gold prices have stalled below the $1300/oz figure while the SPX 500 continues to oscillate in a choppy range below the 2100 threshold.
Crude Failure to Hold LT Line Would Open Up 42.27
Canadian Rate Cut: a Double-Edged Sword?
The Boc’s rate cut is viewed as largely beneficial, yet underlying risks remain. USDCAD hits a 5 year high.
USOIL Calls For A Bottom Look Premature
Crude Oil decline doesn’t look over yet.
South Africa: Repo Rate Static Until Extent of Oil Shock is Determined
With the difference between headline CPI and inflation expectations vast, the Reserve Bank will likely wait for the broader implications of lower oil prices to be felt before adjusting the repo rate.
Crude Weekly Reversal at Long Term Trendline