Oil prices rose nearly 2% on Wednesday due to a larger-than-expected drop in US crude inventories. At the same time, oil demand increased as Fed policymakers indicated that the recent decline in inflation would pave the way for rate cuts. Brent futures (Source: ICE Futures Europe, Bloomberg) The Energy Information Administration reported that inventories fell Read More…
CL Volatility We havent seen much volatility after the very uncomforting attempt on former US President Donald Trumps life this morning. The week ahead could be a very hostile one after this event on the weekend as well as OPEC monthly report and EIA report this week. Let’s see if we can position ourselves properly Read More…
Oil prices rose on Wednesday due to a larger-than-expected fall in US crude inventories last week. Meanwhile, investors were positioning themselves for the US inflation report after Powell’s cautious remarks. Data from the Energy and Information Administration on Wednesday showed that US inventories dropped by 3.4 million barrels. Meanwhile, economists had expected a 1.3 million Read More…
OneUp Trader has just hit a major milestone as we reached 1,000 reviews on Trustpilot! Join us as we celebrate this achievement and tell you a little more about the traders who have succeeded in our funded trader program. Over 1,000 Reviews on Trustpilot Our stellar 4.7-star rating shows the quality and reliability of the Read More…
Oil prices rose nearly 1% on Wednesday after a bigger-than-expected decline in crude inventories, indicating robust demand. At the same time, weak data from the US raised the likelihood of a Fed cut in September, which would increase fuel consumption. Oil and crude inventories (Source: Nymex, EIA) The Energy and Information Administration reported that crude Read More…
Introduction Gold Futures (GC) are still performing well in 2024, up 14.2% YTD and 22% for the past 365 days. The main observations we can look at is the huge divergence between the 50 and 200 SMA. The 200 is steadily rising so long term investments and trades point bullish. At the moment, GC is Read More…
