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.

Free Trading Guides
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
Oil - US Crude
More View more
Real Time News
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/f4y1FOOZnM #tradingstyle https://t.co/x5HgYopWc5
  • The USD may rise if the FOMC re-affirms its data-dependent approach and cools 2020 rate cut bets. US retail sales and CPI data may also give the Fed impetus to hold rates. Get your $USD market update from @ZabelinDimitri here: https://t.co/XnDITaDOox https://t.co/A480uVMqF2
  • What tools does the ECB have left to stimulate the Eurozone? Where is the #Euro heading? Find out from Chief Eurozone Economist at Pantheon Macroeconomics Claus Vistesen only on Trading Global Markets Decoded #podcast hosted by @MartinSEssex here:https://t.co/Twr44cZ1GB https://t.co/DXlDH5Cp9e
  • The price of oil extends the advance from the October low as #OPEC and its allies pledge to take additional steps to balance the energy market. Get your crude #oil market update from @DavidJSong here: https://t.co/llGq8yPFH4 #OOTT https://t.co/1OCVOIrK98
  • Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the XAU/USD weekly chart. Get your gold technical analysis from @MBForex here: https://t.co/ovGheRg4MQ https://t.co/ZEQSYktj0w
  • What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/l6FvtcADEH
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/dnrAMFK4U2
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/RMk5Eb5fLU
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/KdpSjQSJ8F
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/INdFtsrTTF
Crude Oil Price Latest: Positive Bias on Heightened Political Woes

Crude Oil Price Latest: Positive Bias on Heightened Political Woes

2019-04-15 08:00:00
Nick Cawley, Analyst

Crude Oil Price Chart and Analysis:

  • Crude oil chart continues to flash positive signals.
  • Libyan oil production at risk as violent clashes continue.

The Brand New DailyFX Q2 2019 Trading Forecast and Guides are Available to Download Now!!

Crude oil prices continue to trade at or near multi-month highs as clashes in Libya continue, adding to concerns that oil production from the OPEC member may be cut back sharply. The ongoing assault on the capital Libya has yet to weigh on current oil production of round 1.1 million barrels per day but this could change quickly, impacting the price of crude.

Sanctions against Venezuela continue to bite with the country reporting a sharp slowdown in production. According to the IEA the country’s production was down 600,000 barrels a day compared to a year ago, while OPEC reported that Venezuela’s monthly production fell by around 500,000 barrels to 960,000 barrels last month.

Crude is also being propped up by thoughts that the economic slowdown in China is not as bad as first feared with traders now waiting for a slew of economic data on Wednesday, including Chinese Q1 GDP. Data last week showed new Yuan loans rising sharply in March to 1690 billion from 885.8 billion, while the trade balanced soared to CNY 221.3 billion from 34.46 billion in February.

DailyFX analyst Daniel Dubrovsky will be covering Chinese GDP Data live on April 17 from 2:45am.

Crude Oil Price Latest: Positive Bias on Heightened Political Woes

The current oil chart remains positive with prices seemingly supported by the 38.2% Fibonacci retracement level at $70.57/bbl. and the 200-day moving average further down at $68.50/bbl. The 20-day moving average rose though the longer-dated ma at the start of April and this has added another positive sign on the current chart. The market has moved out of extreme oversold territory and is sitting on the recent bullish trend line.

How to Trade Oil: Crude Oil Trading Strategies & Tips.

Crude Oil Daily Price Chart (June 2018 – April 15, 2019)

Crude Oil Price Latest: Positive Bias on Heightened Political Woes

Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.

What is your view on crude oil – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author at nicholas.cawley@ig.comor via Twitter @nickcawley1.

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


News & Analysis at your fingertips.