Based on recent news articles, the sentiment regarding oil prices is mixed. While some articles mention that oil prices have risen due to factors such as wildfires in Canada's oil sands and expectations of a drawdown in US inventories, other articles highlight that oil prices have declined to nine-week lows following disappointing inflation data and unchanged forecasts from OPEC. Overall, the outlook for oil prices remains uncertain and is influenced by various factors such as supply-demand dynamics, global economic indicators, and geopolitical events. Here are some news articles related to oil prices: Oil prices up on wildfires in Canada, US inventories drawdown expectations: This article mentions that oil prices rose due to the threat of wildfires in Canada's oil sands and expectations o

Oil prices are now up over 30% since mid-June. $WTI Crude Oil - main 2311(CLmain)$ reaches $92.43, a record high in 2023.$Brent Last Day Financial - main 2311(BZmain)$ has risen from around $72 to $95.To learn more about oil prices, you can click How to Gain From 25% Upside & 24h Quotes of Oil Futures?But the markets believe the rate hike cycle is over and that Fed will start to cut rates in 2024.data from cmegroupWhy do surging oil prices won’t affect rate hike decision?Oil prices account small part for core CPIMORGAN STANLEY: “.. a 10% increase in oil prices .. adds 35bp to headline CPI for 3 months, but ju

What are the potential impacts? The global crude oil market is experiencing a sustained surge, with prices on track for their third consecutive weekly gain. This bullish momentum is primarily attributed to robust economic data emerging from China, coupled with reports of record-breaking oil consumption. The implications of this upward trend are multifaceted and warrant a closer examination of the factors contributing to it, as well as the potential consequences for various stakeholders. [USD]  Crude Oil Updates China, the world's second-largest crude oil consumer, has emerged as a significant driver behind the recent surge in oil prices. The country's economic indicators, including industrial output and retail sales, have exceeded expectations, indicating a stabilization of the econom

On Monday, driven by expectations of production cuts, $Brent Last Day Financial - main 2311(BZmain)$ surged to $88.90, while $WTI Crude Oil - main 2310(CLmain)$ reached their highest intraday level since November of last year. In August, the International Energy Agency (IEA) had forecasted that this year's global demand would hit a historical high due to robust air travel, power generation needs, and activities in China's petroleum and chemical industry.The reasons for the oil prices increase include:Production Cuts: The OPEC+ alliance led by Saudi Arabia and Russia has implemented substantial measures to limit crude oil supply to support the market. Supply Constraints: High temperatures and other

Hi Tigers:During this scorching summer, the global futures market is ablaze with trading excitement, offering countless opportunities for trading masters to succeed. I would like to invite you to share your futures trading & win Tiger Coins. Feel free to leave your comment of this post and talk about how your Futures performed.💡How to participate？Leave a message in the comments section of this post, and share your Futures Trading.How to share positions?​Sharing positions is easy. From your account holdings interface “portfolio”,  you can click orders from the futures tab, then you can click "Share" by each of your Futures holdings to share with the community how much money you have made (or lost) on your investments.Do not forget to take a screen

The fundamentals of the oil market remains mixed, and there doesn't seem to be a strong one-sided trend. The recent rise in crude oil prices can be explained as a fluctuation from the low levels.Why did crude oil experience a bottom bounce?This is because low oil prices were stimulated by three major factors, leading to consecutive two weeks of price increases and breaking through the long-term downtrend and the MA 200 (moving average 200).OPEC+ continued production cuts.The rate hike is coming to an end after July FOMC.An important meeting in China that opened up possibilities for future economic growth.During the June OPEC+ meeting, Saudi Arabia voluntarily cut an additional 1 million barrels per day, which was a rare and significant reduction, the largest in years. The IEF Secretary-Gen

As we approach the end of the June, some investors begin to forecast the stock market in the next half. Let’s look back at how we did the analysis at the beginning of the 2023.Most retail investors gained information by reading the report and outlooks released by institutions. Let’s find out if Goldman Sachs and JPMorgan are right or wrong in forecasting economy and stock market in 2023. The source are from Goldman and JPMorgan’s official website.Both of them are wrong at predicting the stock market trends in the first half as $S&P 500(.SPX)$ are trading at 4300.They are also wrong in terms of interest rates and inflation. The benchmark rate is now at the range of 5%-5.25% and the market is expecting at least another 25bps.May CPI is 4%, highe

Last weekend, OPEC+ announced a production cut, causing a surge in crude oil prices and making the current market narrative more confusing.On the one hand, the footsteps of the recession are getting closer. Despite the temporary relief of the European and American banking crises after the Fed provided temporary liquidity, the erosion of bank profit margins and the tightening of credit in a high-interest-rate environment have not fundamentally changed.On the other hand, stagflation has not ended. The rise in crude oil prices is likely to prolong the high-inflation level and limit the Fed's pivot.How should we allocate our investment portfolio?I. Q1 Asset Performance Review1. Major asset returnsSource: Bloomberg. Denominated in USD; 2023/1/1-2023/3/31Looking back at Q1 2023, major global ass

Recently, a friend asked me what is the difference between Brent crude oil and WTI crude oil. Today, I will make a special post to talk about it. Of course, a large part of the main content is written with reference to regular media sources.At present, there are two mainstream crude oil futures Contract in the market: one is WTI contract $WTI Crude Oil - main 2305(CLmain)$ , and the other is Brent crude oil contract $Brent Last Day Financial - main 2306(BZmain)$ .However, the actual name of the current Brent crude oil contract is called Brent crude Oil Cash Contract, which is a contract under Chicago Mercantile Exchange Group. Unlike the Brent crude oil contract that can be traded on the European

According to media reports, US asked Saudi Arabia to increase production when energy costs soared and pledged to step in and buy oil if prices fell. But last week, the Biden administration went back on its word and publicly ruled out purchasing new crude oil.The collapse of Silicon Valley Bank also affected commodities. Therefore, OPEC chose to cut production to stabilize the market.Energy stocks surged yesterday, with $Marathon(MRO)$ up about 10%, $ConocoPhillips(COP)$ up 9.3% and $BP PLC(BP)$ up 4.74%. Buffett’s holdings - $Occidental(OXY)$ rose 4.4% yesterday; $Chevron(CVX)$ rose 4

Large oil producers led by Saudi Arabia said on Sunday that they will cut production by a total of more than 1 million barrels per day starting next month, a surprising move that pushed up crude oil prices.The ups and downs of crude oil always affect financial markets.What exactly is the price of crude oil that professionals often refer to?How can the average investor trade crude oil?What are the pros/cons of trading crude oil?This article answer your questions!1. The 2 most commonly traded crude oil futures - WTI & BrentWTI crude oil, West Texas Intermediate, is the most liquid and actively traded crude oil contract in the world. The ticker is $WTI Crude Oil - main 2305(CLmain)$ . All crude oil produced in or sold for the US is valued aga