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Oil Daily Review July 24, 2019

Oil Daily Review for July 24, 2019

Oil technical analysis: WTI stabilizing above $56.00 a barrel after last week decline

WTI (West Texas Intermediate) stabilizing above 56.00 as the market is trading below its main daily simple moving averages (DSMAs). The market is con

 

USD/CAD erases majority of daily gains on oil recovery, trades above 1.31

The USD/CAD pair climbed to its highest level since late June at 1.3164 today but came under modest bearish pressure in the last couple of hours as th

 

Britain styling out a safe-shipping mission in Strait of Hormuz (Oil bullish)

Following last week’s British tanker seizure in the Strait of Hormuz and rising tensions, supporting the bid in the price of oil, Reuters has reported

 

U.S. oil futures settle higher on crude-supply decline expectations, reports of upcoming U.S.-China trade talks

U.S. oil futures gave up earlier losses Tuesday to finish with a gain, ahead of government data that are expected to reveal a fall in domestic crude supplies…

 

WTI Crude Oil and Natural Gas Forecast July 24, 2019

For additional up-to-date Forex Trading information: News (https://www.dailyforex.com/forex-news/page-1), Technical Analysis (https://www.dailyforex.com/fore…

 

United States API Weekly Crude Oil Stock: -10.961M (July 19) vs previous -1.401M

United States API Weekly Crude Oil Stock: -10.961M (July 19) vs previous -1.401M

 

Oil prices rise as sources say API data show an 11 million-barrel drop in U.S. crude stocks

The American Petroleum Institute reported late Tuesday that U.S. crude supplies dropped by 11 million barrels for the week ended July 19, according to…

 

Crude Oil Prices May See Clashing Cues in Eurozone PMI, EIA Data

Crude oil prices might face conflicting cues as Eurozone PMI data warns of slowing global demand while EIA inventory data reveals a hefty drawdown.

 

Is Geopolitical Tension Really Helping Oil Prices?

The devil is in the details and by looking at the forward contract market, it becomes clear why the current move in the oil price is lifeless

 

Waning US Crude Inventories to Keep Oil Prices Afloat

Oil prices may stage a larger rebound as US crude inventories are expected to contract for the sixth consecutive week.

 

Cheer Up


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Have a nice trading!




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