How will the oil market situation unfold in the upcoming year? We discuss the five 2018 Oil Market indicators investors should watch.
Light Crude Oil trades below 93 as demand subsides.
Saudi Arabia has been trying to pressure Russia with falling oil prices to abandon their support for Syria. How realistic is Saudi Arabia Russia oil deal? Also, how much effect will the oil pressure have on Putin and Russia?
Monday saw an oil price drop relative to the improving U.S. Dollar and potential prospects of a dimming Asian economy resulting in a mixed market analysis.
First OPEC oil cut agreement results drive the oil prices higher. Yet, the markets are cautious ahead of the US shale production data.
Crude Oil begun the second week of September finding its support at 92.9, retesting the low at the start of the month. Closest resistance expected is seen at 95 level as seen from the Fibonacci extension, with bullish entries only considered once the market closes above the 8 day moving average in red.
Light Crude Oil lowest since April 2013
Resistance at 95 as Light Crude Oil rebounds
Light Crude Oil revisits yesterday's high of 95