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
EUR/USD
Bearish
GBP/USD
Bearish
Low
High
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
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Your psychology has a significant impact on the decisions you make, particularly if you are new to trading. How can you avoid your emotions from turning you into a #FOMO trader? Find out: https://t.co/FC7CHpk9vA #FOMOintrading https://t.co/WSDr3JkpAG
  • $AUDUSD: Short-term support could lead-in to a quick bounce up to resistance as taken from another prior support level, plotted around the .6830 level on the chart. Get your market update from @JStanleyFX here: https://t.co/tUoe1Roo5t https://t.co/omaDxGNhZU
  • Central bank independence has several advantages. Find out what they are in detail with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/cQQmuH8biQ
  • The US Dollar remains in consolidation mode against the Philippine Peso and Indian Rupee. Will the Singapore Dollar weaken as $USDSGD rising support holds ahead? Find out from @ddubrovskyFX here: https://t.co/HZ8Loqj3Ey https://t.co/6PCFkdj3ka
  • Follow @DailyFXedu for your regular #webinar updates with @DailyFX analysts and catch up on the webinars you missed. https://t.co/Da10QUg9r1
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/Le8Qx6OOwV
  • $GBPUSD at the moment break-even straddles = 152pips meaning that for option traders to realize gains, the spot price must see a move greater than 152pips. Get your market update from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/RXCBwHGluG
  • $EURGBP has fallen over 6% since August and is now rapidly approaching a critical support level not reached since May. Will a break below accelerate the aggressive selloff? Find out from @ZabelinDimitri here: https://t.co/CBM8Fg7vM0 https://t.co/0yDnEpzQqR
  • The #Euro is struggling for direction against the US Dollar but the near-term downtrend guiding it lower since late June remains firmly intact. Where is $EURUSD heading? Get your technical analysis from @IlyaSpivak here: https://t.co/us6AINmuoe https://t.co/J4hQtyprYf
  • $DXY & $SPX500 hold steady after #FED rate cut. Get your update from @JohnKicklighter here: https://t.co/vqXlKCMDYA
Crude Oil Price Flops; Trump May Ease on Iran After Bolton Fallout

Crude Oil Price Flops; Trump May Ease on Iran After Bolton Fallout

2019-09-11 16:41:00
Thomas Westwater,
Share:

Crude Oil - Talking Points

  • Crude Oil Futures are dropping in the morning trading session as fallout from Bolton’s exit from the White House reveal fundamental disagreements between the President and the now former National Security Advisor John Bolton
  • Crude Oil Futures are pushing near the $56 dollars per barrel mark as the news hits markets
  • DailyFX Forecasts are published on a variety of markets such as Gold, the US Dollar or the Euro and are available from the DailyFX Trading Guides page. If you’re looking to improve your trading approach, check out Traits of Successful Traders. And if you’re looking for an introductory primer to the Forex market, check out our New to FX Guide.

Reports are crossing the wire this morning showing that now former National Security Advisor Bolton had fundamental disagreements with President Trump over the handling of Iran, particularly, President Trump’s willingness to consider easing sanctions to spur a potential meeting between himself and Iranian President Hassan Rouhani. Crude Oil Futures dropped from $57.23 a barrel to $56.18 at the time of writing. WTI Crude is up 23.96% on the year but volatility remains heightened as tensions between the US and Iran persist.

Crude Oil Futures (5-Min)

Crude Oil Price Chart

People familiar with the matter report that Bolton, a well-known Iran hawk was strongly opposed to that approach on Iran and voiced his displeasure to President Trump. Although, it is unknown if Iran would agree to such a meeting, the United States has been preparing for the meeting to potentially take place at the United Nations General Assembly later this month. Bolton’s departure from the White House could be seen as improving the odds of such a meeting taking place which traders have evidently viewed as a potential tailwind for crude oil supply – thus dinging the commodity’s price.

--Written by Thomas Westwater, Intern Analyst for DailyFX.com

Contact and follow Thomas on Twitter @FxWestwater

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

DISCLOSURES

News & Analysis at your fingertips.