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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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Gold Recovery Likely Short-Lived as Indian Buying in Festival Weakens

October 20, 2017 Oil N' Gold 0

Gold price gained for the first time in 4 days on hopes that Diwali, India’s festival beginning on October 18/19 this year, would boost demand for the yellow metal. However, gold’s rally based on this hope would be short-lived as data suggested that bu…

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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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Crude Oil Prices Gain for Second Day; Sterling Firms on Strong Production Data

October 10, 2017 Oil N' Gold 0

Crude oil prices recovered for a second consecutive day on Tuesday, as buoyed by comments from OPEC officials that the output cut deal could be extended until end-2018. OPEC Secretary-General Mohammad Barkindo suggested over the weekend that consultati…

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