12 Dec

What’s Holding US Crude Oil below $60?

WRITTEN BY Rabindra Samanta

US crude oil

On December 11, 2017, US crude oil (USO) (USL) January 2018 futures rose 1.1%. The 2% rise in Brent crude oil prices could have supported the gain in US crude oil prices. In Part 5, we’ll discuss why Brent crude oil outperformed US crude oil. The pipeline outage in the North Sea could have helped WTI oil prices rise.

What’s Holding US Crude Oil below $60?

Rising US crude oil production is the main factor that could hold US crude oil below the $60 level. We’ll discuss it in Part 2. In Part 3, we’ll discuss the crucial relationship between oil prices and oil inventories.

On December 4–11, 2017, US crude oil January futures rose 0.9%. The S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA) rose 0.8% and 0.4% during this period. Gains in oil prices could benefit these equity indexes.

Moving averages

On December 11, 2017, US crude oil active futures were 1.7%, 6.6%, 12.5%, and 16.1% above their 20, 50, 100, and 200-day moving averages, respectively. US crude oil prices have held near the 20-day moving average or the $57 level in the last two trading sessions. Crude oil’s 50-day moving average was 8.9% above its 200-day moving average—a sign that could support oil prices.

Latest articles

15 Jul

Will Amazon Prime Day 2019 Break 2018's Record?

WRITTEN BY Jitendra Parashar

This year, Amazon extended its Prime Day to 48 hours instead of the 36-hour sale in July 2018, making the 2019 event the longest Prime Day ever.

In a series of tweets on Monday, Trump today weighed in on China’s GDP growth, which came in at a 27-year low.

15 Jul

OrganiGram's Third-Quarter Earnings


On Monday morning, OrganiGram's third-quarter earnings came in as a bit of a let-down. Here's why.

Trump is reportedly planning to increase the content of US-made steel in federal projects, which would be a lifeline for US steel companies.

Huawei is preparing for “extensive layoffs” in the US, which could put the US-China trade deal on the rocks.

With Q2's Netflix earnings just around the corner, here's what you can expect from the online streaming giant and the broader streaming space.