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Originally published April 20, 2020 If you've been alarmed by the headline "Oil plunges below $10/bbl," don't be. Chart #1 It's only a temporary phenomenon, brought on by the sudden collapse of oil demand (see Chart #4 in my previous post for more info). As Chart #1 shows, it's only ...
May WTI crude contracts (that expire today) crashed into negative territory for the first time ever on Monday, with markets awash in so much crude that storage space is becoming harder to find. More news on: The United States Oil ETF, LP, iPath S&P GSCI Crude Oil Total Return Index ETN...
( NOAA - Photo of Oil Spill) As of writing, crude oil front-month contracts are -$35 per barrel. This is, by far, the worst day for crude oil in history. The commodity has done the (seemingly) impossible: falling over 100% in a day. In fact, crude oil declined 260%, which makes the previo...
Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha Read more ...
Overview Oil prices have collapsed to start the new week. The May contract, which expires now, is off over 20% to a little more than $14, and the June contact is off nearly 7% near $23.30. Falling demand and limited storage space continue to overwhelm output cuts from OPEC+ that are to start...
by Daniel Shvartsman We recently published a roundtable discussion on the macro environment, and our panel agreed generally that whatever this market has become, we're still in the early phases of how that plays out. And with a bunch of unknowns that are knocking each other about - an un...
Global storage capacity will start to ebb after governments sought to fill their strategic reserves. Oil prices fell again to historical lows as the full impact of the largest oil output cut in history needed time to trickle down to the movement of barrels for May delivery. Eventually gl...
In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last week’s WTI Weekly , the primary expectation for this week was for price discovery lower, barring failure of 26.50s as resistance. This expectatio...
WTI crude oil contracts for May delivery slumped 9% overnight to $18.03/bbl after OPEC economists slashed their global demand forecasts and the Energy Department said domestic producers had boosted U.S. inventories by a record 19.2M barrels. More news on: The United States Oil ETF,...
By Owain Johnson and Jeff White At a Glance The collapse in oil demand brought on by COVID-19 has pushed market volatility to record levels as prices fall. Crude oil implied volatility reached 185% in March. No other major exchange commodity has ever seen levels that high. While ...
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2024-06-28 03:22:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
2024-06-07 20:52:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
2024-05-17 13:06:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...