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CL=F - Crude Oil Jan 20

NY Mercantile - NY Mercantile Real Time Price. Currency in USD

59.22

+0.46 (+0.78%)

As of 4:59PM EST. Market open.

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Pre. Settlement	N/A
Settlement date	2019-12-19
Open	58.88
Bid	59.23

Last price	58.76
Day's range	58.78 - 59.07
Volume	484,476
Ask	59.24

Oilprice.com
Is This The Most Important Oil Price Driver In 2020?
If India’s economic growth picks up pace next year, it could help oil demand growth locally and globally, underpinning the oil price rally
Oilprice.com
Is A New Price War Looming For OPEC?
OPEC has long maintained a solid grasp on oil markets, but as shale production continues to remain strong and transportation continues to electrify, the clock is ticking for the cartel to regain its position
FX Empire
AUD/USD Price Forecast – Australian Dollar Continues To Reach Towards 200 Day EMA
The Australian dollar rallied a bit again during the trading session on Thursday, as we continue to see bullish pressure. It perhaps was helped by poor US figures, but at the end of the day this looks like a market that is trying to form a longer-term bottom.
Oilprice.com
IEA Pours Cold Water Over OPEC+ Optimism
While OPEC has dominated headlines in recent weeks thanks to their joint oil production cuts, the IEA thinks that it still won’t be enough to beat a supply glut
FX Empire
E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Strengthens Over 28208, Weakens Under 28069
Based on the early price action and the current price at 28044, the direction of the December E-mini Dow Jones Industrial Average the rest of the session on Thursday is likely to be determined by trader reaction to the downtrending Gann angle at 28069.
FX Empire
FOMC Dollar Down On FOMC Stance, ECB Signals No Changes, Asia Rises On Trade Hope
Global equity markets retreat after central banks signal no changes to policy should be expected.
Investing.com
Oil up on Trump Tweet, Report Suggesting No Higher China Tariffs
Investing.com – Canceled China tariffs or weak oil demand, which is bigger? Oil traders obviously think the former, pushing crude prices up Thursday on signs the Trump administration was pulling back higher duties due this weekend on Chinese imports.
FX Empire
FOMC Brought Us Few Great Trading Occasions
Yesterday evening we found out that we should not expect any interest rate rises in 2020, which of course was a rather negative information for the American Dollar.
Reuters
India soymeal exports could hit 4-yr low on faltering Iran demand-trade
India's soymeal exports in 2019/20 could plunge to their lowest in four years due to faltering demand from top buyer Iran and as a rally in local soybean prices make shipments pricey for overseas buyers, industry officials said. Lower exports from India will help major growers like the United States, Argentina and Brazil increase sales of the animal feed to Asian buyers like Bangladesh, Vietnam and Japan.
Reuters
Oil rises 1% on optimism for a U.S.-China trade deal
Oil prices gained nearly 1% on Thursday on hopes that the United States and China were close to reaching a deal on an ongoing trade dispute that has raised concerns about global demand for crude. Brent crude futures rose 48 cents to settle at $64.20 a barrel. West Texas Intermediate (WTI) crude futures rose 42 cents to settle at $59.18 a barrel.
Reuters
Oil market to remain oversupplied despite OPEC+ pact, says IEA
Global oil inventories could rise sharply despite an agreement by OPEC and its allies to deepen output cuts as well as lower expected production by the United States and other non-OPEC nations, the International Energy Agency (IEA) said on Thursday. "Despite the additional curbs ... and a reduction in our forecast of 2020 non-OPEC supply growth to 2.1 million barrels per day (bpd), global oil inventories could build by 700,000 bpd in Q1 2020," the Paris-based IEA said in a monthly report. The group's production is also set to outstrip the IEA's projection of demand for its crude by 700,000 bpd in the first half of next year and a full million bpd in the second half.
Reuters
Malaysia's Oct factory output rise slowest in more than 6 years
Malaysia's industrial production index rose 0.3% in October from a year earlier, its slowest pace in more than six years, as mining output declined, government data showed on Thursday. Factory output in October was far below the 1.4% expansion forecast for the month by analysts in a Reuters poll, and was the slowest since February 2013, when output had fallen 4.4%. Manufacturing output, however, was up 2.2% year-on-year while the electricity generation sector rose 0.5%, the data showed.
Reuters
VEGOILS-Palm oil rises for 7 out of 8 sessions on supply concerns
Malaysian palm oil futures gained on Thursday, supported by concerns over a shortfall in supplies early next year due to lack of rains and lower use of fertilizer. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange edged up 7 ringgit to 2,885 ringgit ($691.85) by 0241 GMT. Palm gained for seven out of eight sessions following a two-month rally that has seen prices climbed to the highest since February 2017.
Oilprice.com
Big Oil’s Wishlist: The Hottest Oil Auctions In 2020
2020 could see a number of high-profile oil auctions, and where 2019 was a mixed bag in terms of asset assets, this year is shaping up to be more promising
FX Empire
Gold Price Prediction – Prices Rally as Fed Keeps Rates Unchanged
Gold rallies following Fed decision
Oilprice.com
OPEC Reduced Oil Production Ahead Of Deeper Cuts Decision
OPEC’s crude oil production declined by 193,000 bpd in November from October, as the cartel’s leader Saudi Arabia cut production ahead of the OPEC+ meeting
FX Empire
E-mini S&P 500 Index (ES) Futures Technical Analysis – Strengthens Over 3144.00, Weakens Under 3130.00
Based on the early price action and the current price at 3135.00, the direction of the December E-mini S&P; 500 Index into the close on Wednesday is likely to be determined by trader reaction to a pair of downtrending Gann angles at 3144.00 and 3130.00.
FX Empire
When Might Bitcoin Be Ready To Resume Its Bull Trend?
Bitcoin (BTC/USD) topped out at $13,868.44 in June of this year, thereby completing a 343.2% advance off the December 2018 corrective low of $3,128.89. That low ended a 1-year 84.3% decline off the bull market bubble top of around $19,892, reached in December 2017.
Oilprice.com
Why Venezuela’s Production Rebound Is So Significant For Oil Markets
Venezuela’s oil production jumped by 20 percent last month as many oil buyers braved U.S. sanctions to do business with the country, a development that is particularly interesting with IMO 2020 looming
FX Empire
Crude Oil Price Forecast – Crude Oil Markets Soften Up A Bit
Crude oil markets pulled back a bit during the trading session on Wednesday, reaching towards the round figure underneath before bouncing slightly. That being said, there are a lot of crosswinds right now when it comes to crude oil.
FX Empire
Natural Gas Price Forecast – Natural Gas To Fill Gap
Natural gas markets rallied a bit during the trading session on Wednesday, as we continue to look to fill that gap from a couple of days ago. At this point, the market is likely to see a lot of choppiness, it is colder temperatures come and go, that will move this market.
FX Empire
Crude Prices Dip After Crude Inventories Surplus
Crude oil prices have slipped 1% on Wednesday, after a key crude inventory report surprised the markets with a surplus. We could see further movement from crude, as the Federal Reserve releases its rate decision at 19:00 GMT.
Oilprice.com
Oil Prices Fall On Bearish EIA Data
Oil prices fell on Wednesday morning after the EIA confirmed a build in crude, gasoline and distillates inventories
Reuters
OPEC sees small 2020 oil deficit even before latest supply cut
OPEC on Wednesday pointed to a small deficit in the oil market next year due to restraint by Saudi Arabia even before the latest supply pact with other producers takes effect, suggesting a tighter market than previously thought. In a monthly report, OPEC said demand for its crude will average 29.58 million barrels per day (bpd) next year. OPEC pumped less oil in November than the average 2020 requirement, having in previous months supplied more.
FX Empire
Oil Price Fundamental Daily Forecast – EIA Report Will Determine Today’s Direction
The direction of the crude oil market on Wednesday will likely be determined by trader reaction to the U.S. Energy Information Administration’s weekly inventories report, due to be released at 15:30 GMT. It is expected to show a 2.9 million draw down. If the report shows a build like the API report then look for a steep decline.