COULD OIL PRICES RISE ABOVE $60/BARREL?
Mitglied seit May 09, 2017
33 Posts
May 25, 2017 at 10:14
Crude Oil prices trades on the front foot in Asia on expectations the major oil producers will extend the output cut deal.
The question is whether the major producers will extend the deal by 6-months, 9-months or 12-months. The OPEC monitoring committee has proposed nine-month cut extension. a 9-month extension may have been priced-in by the markets.
A probability of a 12-month extension is low, although that could push oil prices above $60/barrel.
The question is whether the major producers will extend the deal by 6-months, 9-months or 12-months. The OPEC monitoring committee has proposed nine-month cut extension. a 9-month extension may have been priced-in by the markets.
A probability of a 12-month extension is low, although that could push oil prices above $60/barrel.
May 25, 2017 at 12:13
well fundamentals and technical points to a chance of a break out in price upwards from 40-55 range ... but when its going to break 55$ a barrel?, if its going to break out? or if opec fails and it all will come crashing down its a two way street at this time
May 25, 2017 at 13:14
TanEric posted:
I am thinking of trading crude oil. Can anyone help me in knowing whether there are any chances of crude oil rise above $60/Barrel?
This is market and everything is possible, but I do not believe this will happen in short even mid term as per current fundamental situation (WTI).
Mitglied seit Dec 11, 2015
1487 Posts
May 27, 2017 at 08:20
A lot of things are possible but not necessarily probable. Such a price rally in this case is both, in my opinion.
Mitglied seit Dec 06, 2016
33 Posts
May 29, 2017 at 14:15
TanEric posted:
I am thinking of trading crude oil. Can anyone help me in knowing whether there are any chances of crude oil rise above $60/Barrel?
It can possibly happen. As we all say, only the market can tell 😁. But with the recent news (source: https://www.funds-money.com/light-crude-slipped/), I can sense it could take quite some time to happen due to the fact that there is slow gasoline stock in the US and as well as the anticipation of the OPEC meeting.
Mitglied seit Mar 28, 2017
12 Posts
Jun 01, 2017 at 14:54
If you wait long enough then it will probably reach $60 but do you have the time?
Mitglied seit Dec 11, 2015
1487 Posts
Jun 25, 2017 at 11:58
Right now it's so bearish that $60 per barrell seems like an impossible dream, if you ask me.
Mitglied seit Feb 22, 2011
4862 Posts
Jun 27, 2017 at 06:45
TanEric posted:
I am thinking of trading crude oil. Can anyone help me in knowing whether there are any chances of crude oil rise above $60/Barrel?
It could but why it should?
Mitglied seit Dec 11, 2015
1487 Posts
Jun 27, 2017 at 08:05
togr posted:TanEric posted:
I am thinking of trading crude oil. Can anyone help me in knowing whether there are any chances of crude oil rise above $60/Barrel?
It could but why it should?
That's what I was wondering too. I doubt it will be rallying that much anytime soon.
Mitglied seit May 03, 2017
18 Posts
Jun 27, 2017 at 13:43
I think a fall is more likely now. Global economy seems to be weakening
Mitglied seit Dec 11, 2015
1487 Posts
Jun 28, 2017 at 11:50
TerraTopNova posted:
I think a fall is more likely now. Global economy seems to be weakening
Oil seems bullish at the moment, but I agree with you for the long-term.
forex_trader_29148
Mitglied seit Feb 11, 2011
1916 Posts
Jun 28, 2017 at 14:52
i pay 1.20 gallon west tx,as long as us provides oil it will never go to 60
Jul 02, 2017 at 06:26
mlawson71 posted:TerraTopNova posted:
I think a fall is more likely now. Global economy seems to be weakening
Oil seems bullish at the moment, but I agree with you for the long-term.
What do you call a Fall ? Long term potential for significant move is up.... Downside is very Limited....
It will become uneconomical ....
Mitglied seit Dec 11, 2015
1487 Posts
Jul 12, 2017 at 11:33
(bearbeitet Jul 12, 2017 at 11:33)
It was @TerraTopNova that was referring to a fall.
Apart from that, I call a fall any movement (to the downside, obviously) larger than 20 - 40 pips in the short term. In the long-term obviously the movement will be a lot deeper.
Apart from that, I call a fall any movement (to the downside, obviously) larger than 20 - 40 pips in the short term. In the long-term obviously the movement will be a lot deeper.
