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Oil Daily Review May 31, 2019

Oil Daily Review for May 31, 2019

Gold Prices Continue to Coil as Range Breakout Lingers

Gold 1-month implied volatility hit a fresh all-time closing low yesterday, but Gold prices have stopped falling. A bullish sign for bullion?


WTI digs a deeper oil-well below trend line support, 61.8% Fibo & prior weekly low

The price of oil has taken another nosedive on Thursday, this time with global growth concerns accompanied by a surprise Energy Information Administra


USD/CAD stays above 1.35 as oil selloff continues to hurt loonie

The USD/CAD pair staged a downward correction after refreshing its 2019-high yesterday and eased below the 1.35 mark. However, with the crude oil, onc


WTI slumps below $58 after EIA reports smaller-than-expected draw in crude oil stocks

Crude oil prices came under a renewed selling pressure in the NA session after the weekly data published by the U.S. Energy Administration Information


EIA: Commercial crude oil inventories decreased by 0.3 million barrels from previous week

In its weekly petroleum report for the week ending May 24, the Energy Information Administration (EIA) announced that the commercial crude oil invento


United States EIA Crude Oil Stocks Change came in at -0.282M, above expectations (-0.857M) in May 24

United States EIA Crude Oil Stocks Change came in at -0.282M, above expectations (-0.857M) in May 24


U.S. oil prices fall 3.8% to lowest settlement in over 2 months

U.S. oil futures dropped Thursday to finish at their lowest in more than two months after U.S. government data showed a modest weekly decline in domestic…


Oil prices fall as EIA reports a smaller-than-expected decline in U.S. crude supply

The Energy Information Administration on Thursday reported that U.S. crude supplies edged lower by 300,000 barrels for the week ended May 24. Data were…


Crude Oil Price Sinks 4.5% as Bullish Conviction Ebbs

Commodity traders sent oil prices plunging on Thursday as uninspiring crude inventory data reignited oversupply concerns, dealing the latest blow to bullish sentiment.


US Iran Envoy: Countries buying Iranian oil will be subject to sanctions

In a statement released late-Thursday, the US Special Representative for Iran Brian Hook said that the US will sanction any country which buys oil fro


Crude Oil Prices May Fall Further on Trade Wars, Oversupply Fears

Crude oil prices may continue to fall after hitting a three-month low as trade war escalation weighs on the outlook for demand even as US inventories swell.


Have a nice trading!

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