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Crude has again started moving in upwards. As far as crude is positioned according to charts its giving a clear sign to move more upwards in coming days. Now, how far crude could move from current market price of $56? Currently till writing of this article Crude was over the
We are already into festive and New Year season and therefore the trading is slowing a bit as the week started off with the holiday around the world and low volumes across the commodities has made it very difficult to get a clear cue of the future prices. Here we look at the
First time since 2001 OPEC and NON-OPEC countries have come down to an agreement to finally cut the production output. NON-OPEC countries have finally agreed to cut down production up to 558,000 barrels per day. Before this meeting on November 30 2016 OPEC countries have already decided to cut crude production.
OPEC Meeting Update: Iran Oil Minister says No chance of any agreement on production freeze at this meet, aim to bring market share back to 12-13%. Iran not willing to freeze output at current levels. Source: Reuters This will make market fall down drastically as market awaits API data followed
Crude is still very volatile and will continue to do so. About the glut that is in crude and OPEC meeting sometimes yes and sometimes no – its still not clear that where one should stand in crude if you are an intraday trader. We feel that crude will fall