Commodity Trade Mantra

Posts Tagged ‘Oil Speculators’

Has the Oil Price Rally Gone Too Far? Time for a Correction or Yet More to Rise?

As usual, the oil markets are rife with confusion and uncertainty. Speculators could be overextending themselves – Or – realize that the rally has run out of steam & then decide to pocket their profits. The longer-term looks a little clearer on the back of rising demand and shrinking supply. The market will have to balance out; the only debate is over how quickly that happens.

IEA Sees “Light At The End Of The Tunnel” For Oil Markets

The IEA found a variety of reasons to think that the oil markets are turning a corner, including: supply outages in Iraq, Nigeria, and the UAE; the declines in non-OPEC supply; tepid but steady demand; recent weaknesses in the U.S. dollar; and the potential that OPEC takes stronger action to boost prices, although any meaningful steps to reduce supply remain unlikely.

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