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Crude Oil Prices Slipped on Higher US Output

November 2, 2017 Oil N' Gold 0

The front-month WTI crude oil contract retreated, after rising to a 10-month high of US$ 55.22/bbl (just 2 cents shy of 2017-high of US$ 55.24/bbl) earlier in the day. Traders took the EIA inventory data as a reason for profit-taking. The WTI contract …

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Crude Oil Rallied 5-7% in October, Wide WTI-Brent Spread Might Encourage US Exports

November 1, 2017 Oil N' Gold 0

Recording 5-7% gains in October, crude oil prices began the third quarter in a good shape. The key drivers for the rally were geopolitical tensions aided by OPEC/ non-OPEC verbal support for extension of the output cut deal. Whether the strength can su…

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Gold Climbed Higher as Talks of “Gradual” Tax Cut Approach Pressured USD and Yields

October 31, 2017 Oil N' Gold 0

Oil prices extended gains with the Brent crude contract closing above US$ 60/bbl for a second day. Traders remained thrilled by support from Saudi Arabia and Russia of extension of the output cut deal. The front-month Brent contract climbed +0.76%, whi…

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Weekly Fundamentals – Brent Crude Broke Above US$ 60/bbl

October 29, 2017 Oil N' Gold 0

Oil’s rally gathered momentum on Friday as Saudi Arabia reinforced support of extending the output cut deal beyond March 2018 and Iraqi conflicts have shown no signs of abating. While these two factors had sent the Brent crude contract above US$ 60/bbl…

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Weekly Fundamentals – Geopolitics and Fall in US Rigs Sustained Oil’s Rally

October 22, 2017 Oil N' Gold 0

Driven by geopolitical tensions in the Middle East and helped by further decline in US inventory and oil rig counts, oil prices clung onto gains last week. Both crude oil benchmarks rallied to the highest levels in the middle of the week but then retre…

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WTI-Brent Spread Widens as Tension-Ridden Regions are Suppliers of European Oil

October 17, 2017 Oil N' Gold 0

Crude oil rallied to fresh three-week highs on intensified geopolitical tensions in the Middle East, and between the US and Iran. The front-month WTI crude oil contract fained +0.82% to settle at 51.87 while the Brent contract jumped +1.14% to close at…

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IEA Indicates Oil Balance Outlook Depends on OPEC Production

October 13, 2017 Oil N' Gold 0

Crude oil prices retreated for the first time in 4 days as trader took profit. The losses were contained by a report showing US inventory decline last week. The front-month WTI crude oil contract dropped -1.36% while the Brent contract was down -1.21%….

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Weekly Fundamentals – Crude Oil Profit-Taking Continues

October 7, 2017 Oil N' Gold 0

Energy prices dropped on Friday although Saudi Arabia and Russia affirmed the possibility to extend the output cut deal to end -2018. Both crude oil benchmarks ended the week lower as profit-taking continued. The front-month WTI contract plunged -4.61%…

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Trump’s Budget Brinkmanship Soured Sentiment

August 24, 2017 Oil N' Gold 0

The same old tactic! Donald Trump again plays his budget brinkmanship, threatening a government shutdown if the Congress refuses to approve funding to build the border wall with Mexico. Market sentiment soured, just a day after it was lifted by comment…

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