Crude Oil Prices Responded Abruptly to Supply Conjecture

Crude Oil

Crude oil fell around USD 5 to a 10-month low on Monday before returning to where it commenced the week.

The wild ride was prompted by a Wall Street Journal article that stated that OPEC+ is considering a rise in production of 500,000 barrels daily at their next week’s gathering. Saudi Arabia later denied the report, and this saw the price roar back toward opening levels.

Although Crude oil experienced wild price swings overnight, it has been relatively stable in Asia today, with the WTI futures contract above US$ 80 bbl while the Brent contract is approaching US$ 88 bbl. Gold managed to reach an uptick, trading above US$ 1,740.

Fractures began to appear in the oil market last Friday when the futures market dipped into contango for the first time since May 2021. Contango indicates underlying supply and demand dynamics within the oil market.

Both episodes of contango saw the market move back into backwardation to end the session on Friday and Monday.

This Post Has 14 Comments

  1. I just like the valuable information you supply to your articles. I’ll bookmark your weblog and check once more right here frequently. I am moderately certain I’ll be informed a lot of new stuff right here! Best of luck for the following!

  2. Fitspresso

    I?¦ve recently started a blog, the information you offer on this web site has helped me greatly. Thanks for all of your time & work.

  3. Fitspresso

    Hey there! Someone in my Facebook group shared this website with us so I came to take a look. I’m definitely loving the information. I’m bookmarking and will be tweeting this to my followers! Wonderful blog and great design and style.

  4. puravive reviews

    Puravive is a weight management supplement formulated with a blend of eight exotic nutrients and plant-based ingredients aimed at promoting fat burning.

  5. Nagano Lean Body Tonic: An IntroductionNagano Lean Body Tonic is a dietary supplement designed to help lose unhealthy weight.

  6. Boostaro reviews

    I appreciate, cause I found just what I was looking for. You’ve ended my 4 day long hunt! God Bless you man. Have a great day. Bye

  7. Java Burn

    Howdy! I just want to give an enormous thumbs up for the good data you have got right here on this post. I will likely be coming back to your weblog for extra soon.

  8. I conceive this website holds some very superb information for everyone :D. “Experience is not what happens to you it’s what you do with what happens to you.” by Aldous Huxley.

  9. Do you have a spam problem on this website; I also am a blogger, and I was curious about your situation; many of us have created some nice procedures and we are looking to exchange techniques with others, please shoot me an e-mail if interested.

  10. zoritoler imol

    An fascinating discussion is value comment. I believe that it’s best to write more on this matter, it won’t be a taboo subject but usually people are not enough to talk on such topics. To the next. Cheers

  11. Auto Approve List

    Good day! Do you know if they make any plugins to assist with SEO?
    I’m trying to get my site to rank for some targeted keywords but I’m not seeing very good results.

    If you know of any please share. Kudos! You can read similar article here: Hitman.agency

  12. sklep

    Wow, incredible blog layout! How long have you ever been blogging
    for? you made blogging glance easy. The entire glance
    of your website is excellent, let alone the content material!
    You can see similar here sklep

Leave a Reply

Important Link

Fund Your Deriv Account
Withdraw Funds to Your Local Currency
VIP Trading Signals
Learn To Trade

Contact Us

Follow Us

Disclaimer

Forex, Crypto, Options, and Binary Options have both large potential rewards and large potential risks. Therefore, before investing or trading any of the assets, ensure you are aware of and willing to accept the accompanying risks. Do not trade money you cannot afford to lose.

All Rights Reserved. None of the content of this website can be published elsewhere by any means without the prior consent of the owner(s). Please, check our terms & conditions and privacy policy before continuing to use this website.

This website and its owner(s) are not in any way liable for any incurred loss, whether caused by the information provided on this website or otherwise. The use of this website, including the content and information provided, is the user’s sole liability.