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. See our updated Privacy Policy here.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/VBNQsIAubW
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.79%, while traders in Wall Street are at opposite extremes with 77.39%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/mpKyIFa66N
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.18% 🇨🇭CHF: 0.08% 🇪🇺EUR: 0.05% 🇨🇦CAD: -0.10% 🇳🇿NZD: -0.16% 🇦🇺AUD: -0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Rc9CqP87Q6
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: US 500: -0.29% Wall Street: -0.42% Germany 30: -0.43% FTSE 100: -0.45% France 40: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/XAx5GBxtcH
  • (ASEAN Fundy) US Dollar Outlook: Federal Reserve in Focus for SGD, THB, IDR, PHP Amid Covid Risks #ASEAN #USD $USDSGD $USDTHB $USDIDR $USDPHP #Covid https://www.dailyfx.com/forex/fundamental/article/special_report/2021/07/26/US-Dollar-Outlook-Federal-Reserve-in-Focus-for-SGD-THB-IDR-PHP-Amid-Covid-Risks.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/Sry0bENjJC
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/Fvz238T08f
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.36% Gold: 0.21% Oil - US Crude: -0.43% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/V7Tt9cjqNX
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇬🇧GBP: 0.07% 🇨🇭CHF: 0.04% 🇳🇿NZD: -0.06% 🇦🇺AUD: -0.12% 🇨🇦CAD: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1xgQGURmLU
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.48%, while traders in Wall Street are at opposite extremes with 78.79%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/y1ftqNZqRG
  • 🎯 Bitcoin extending its surge through the weekend to trade back above $35K. Seeing some serious upward momentum here, but in light of Fed event risk this week, it may be prudent for short-term tactical traders to consider unwinding exposure a bit. #Bitcoin $BTC $BTCUSD https://t.co/OZjpMGIINQ https://t.co/3miq9M8YS9
Crude Oil Price Outlook: Weak on Concerns About Global Demand

Crude Oil Price Outlook: Weak on Concerns About Global Demand

Martin Essex, MSTA, Analyst

Crude oil price, news and analysis:

  • The crude oil price outlook has worsened as the US and China ramp up tariffs on each other’s goods in a trade war that could hit worldwide economic growth.
  • Near-term, that will likely more than offset Gulf tensions and a continuing disruption of supplies.

Crude oil outlook poor

Crude oil prices are dropping following the latest salvos in the US-China trade dispute and further losses now look possible unless there is a breakthrough. The US has already raised tariffs on Chinese goods and China has responded by pledging to increase tariffs on $60 billion of US goods.

US President Donald Trump reduced tensions late Monday, saying the trade talks are “going to be very successful” and he is still expected to meet Chinese President Xi Jinping at a G20 summit in Japan on June 28/29. However, the oil price is under downward pressure on concerns that demand for it will suffer if economic growth slows.

Crude Oil Price Chart, Hourly Timeframe (May 6-14, 2019)

Latest US crude oil price chart.

Chart by IG (You can click on it for a larger image)

Eight Surprising crude oil facts every trader should know

That is outweighing news that two Saudi oil tankers sustained “significant damage” in a “sabotage attack” off the United Arab Emirates on Sunday. The US has said that Iran may have been behind the attack, ramping up tensions between the two countries.

Meanwhile US sanctions on Iran and Venezuela are also reducing supplies, although US production will likely continue to rise.

How to trade oil: crude oil trading strategies and tips

Looking ahead, the next big event for oil markets could be a meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, in Jeddah on May 19.

You can check out our free longer-term trading forecasts for oil and other assets here

Resources to help you trade the markets:

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you:

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES