Higher the supply lower the price. US keep injecting more barrels day and day hence price drops.
Injected 8.5M barrels last week
Next US OIL inventory scheduled on Wed with FED US Rate decision.
Injected 8.5M barrels last week
Next US OIL inventory scheduled on Wed with FED US Rate decision.
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My Take IF FED HIKES and Higher the Inventory (Higher the supply) OIL will tank (go down)
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Tomorrow. Watch Oil Inventory level and Fed Rate
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IF FED HIKES and Lower the inventory (Lower the supply) OIL neutral
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m not trading oil just got some though on replaying this idea.. 1.13 level 65$ would be some resistance to test 50% 53.5. 78.6 88.6 1 1.13 ultimate resistance..
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www.bloomberg.com/ne...f-oil-and-gas-stocks there has been some news on largest funds quiting on oil and gas
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seekingalpha.com/art...pcoming-opec-meeting Some prediction OPEC oil cuts to be exteneded till March or till 2018 end ,, *OPEC is expected to extend cuts at meeting on Nov. 30. SINGAPORE, Nov 16- Oil markets edged up on Thursday as expectations that OPEC will extend production cuts at a meeting at the end of this month outweighed rising U.S. crude production and inventories
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the simple demand and supply is if more cuts lesser supply higher the price of oil goes 65$ is some top for some time then 53.5 47-45 35 will be supported. I dont trade oil quick replaying on oil idea gave me this thought and left tracking us oil inventory long time ago..
Supply vs Demand
Higher the supply lower the price of oil
Lower the supply higher the price of oil
Lower the demand lower the price of oil
Higher the demand higher the price of oil
POSSIBLE OUTCOMES
IF FED HIKES and Higher the Inventory (Higher the supply) OIL will tank (go down)
IF FED REMAIN UNCHANGED and Lower the inventory (Lower the supply) OIL will Rally (go up)
IF FED HIKES and Lower the inventory (Lower the supply) OIL neutral
IF FED REMAIN UNCHANGED and Higher the inventory (Higher the supply) OIL netural