News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX:
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Gold: 0.20% Silver: -0.31% Oil - US Crude: -0.34% View the performance of all markets via
  • Euro May Turn Lower vs. US Dollar as Upswing Falters Below 1.20 - #EURUSD #technicalanalysis
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.28% 🇦🇺AUD: 0.11% 🇳🇿NZD: 0.08% 🇨🇦CAD: 0.03% 🇨🇭CHF: 0.03% 🇪🇺EUR: 0.01% View the performance of all markets via
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.09% France 40: 0.03% FTSE 100: -0.09% US 500: -0.23% Wall Street: -0.33% View the performance of all markets via
  • Crude Oil Prices Retreat After Big Rally as Traders Await Fresh Catalysts
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here:
  • India's Sensex slumps 3% after daily virus cases hit new record - BBG
  • US 10-Year Treasury yields set to continue sliding lower in the near term, after breaching the neckline of a Head and Shoulders pattern. Clearing 1.53% probably paves the way for rates to fulfil the pattern's measured move (1.42), opening the door for #gold to extend gains
  • Gold Prices Extend Higher on Chinese Demand Boost, Falling Yields
Crude Oil Prices Sink with Stocks Amid Global Recession Fears

Crude Oil Prices Sink with Stocks Amid Global Recession Fears

Ilya Spivak, Head Strategist, APAC


  • Crude oil prices down other cyclical commodities and stocks in risk-off trade
  • Returning global recession fears might be driving renewed liquidation sweep
  • Gold prices down with stocks as haven-seeking capital flows boost US Dollar

Crude oil prices tumbled amid a broad risk-off turn across financial markets at the start of the trading week. Stocks fell on Asia-Pacific bourses. Other cycle-sensitive commodities – like copper and natural gas – likewise fell, as did similarly-minded currencies.

Curiously, gold prices fell alongside risky assets. That could reflect gains in the US Dollar, which may have undermined the appeal of anti-fiat alternatives. The Greenback’s unrivaled liquidity often makes it a beneficiary of haven-seeking capital flows.

A sudden spike in Covid-19 cases in Beijing was cited as a catalyst in the newswires. This surely didn’t help, but it seems a stretch to flag it as the catalyst considering that news was reported long before the first big wave of selling hit around 3:30-4:00 GMT.

In fact, that timeline seems in line with the daily reopening of trade in Tokyo after the lunchtime break. As it happens, Japanese shares suffered outsized losses relative to regional counterparts. Industrials, consumer discretionary and tech sector shares seemed to drive the selloff.

On balance, this gives price action a cyclical appearance, suggesting that liquidation may reflect the return of global recession fears. Bellwether S&P 500 stock index futures are pointing sharply lower ahead of the opening bell on Wall Street, warning that de-risking is likely to continue.

Oil Forecast
Oil Forecast
Recommended by Ilya Spivak
Get Your Free Oil Forecast
Get My Guide


Crude oil prices edged lower after producing a bearish Dark Cloud Cover candlestick pattern, with sellers now menacing support at 34.78. A daily close below that exposes the 27.40-29.11 inflection zone. Near-term resistance is in the 42.40-43.88 area. Breaking above that likely puts the $50/bbl figure in the crosshairs.

Crude oil price chart - daily

Crude oil price chart created using TradingView


Gold prices continue to idle near the middle of a choppy range containing them since mid-April. Resistance is marked by the May 18 highat 1765.30. Support is in the 1679.81-93.92 area, with a break below that on a daily closing basis probably exposing the 38.2% Fibonacci retracement at 1645.40 next.

Gold price chart - daily

Gold price chart created using TradingView

Gold Forecast
Gold Forecast
Recommended by Ilya Spivak
Get Your Free Gold Forecast
Get My Guide


--- Written by Ilya Spivak, Head APAC Strategist for DailyFX

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.