Oil

[raihan8212]

Crude oil futures pushed higher during U.S. afternoon hours Thursday,as investors reacted to a flurry of U.S. economic data and weighed risk sentiment in the euro zone.

Continuing worries over the global slowdown and the impact on future oil demand prospects continued to dampen the appeal of the commodity.

On the New York Mercantile Exchange, light sweet crude futures for delivery in December traded at USD86.29 a barrel during U.S. afternoon trade, adding 0.64%.

Sparking the rally, in the U.S., the National Association of Realtors said its pending home sales index rose by 0.3% in September, below expectations for a 2.1% gain.

The data came after a government report showed that durable goods orders, which include transportation items, jumped by a seasonally adjusted 9.9% in September, compared to expectations for a 7.1% gain.

Excluding volatile transportation items durable goods orders rose by a seasonally adjusted 2.0% last month, beating expectations for a 0.8% gain.

Separately, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week fell to 369,000, from 392,000 the previous week, compared to expectations for a decrease to 370,000.

On Wednesday, the Federal Reserve announced no new measures at the end of its policy-setting meeting. In its rate statement, the central bank said the U.S. economy is improving moderately, but said job growth has been slow and the unemployment rate remains elevated.

The Fed also said it planned to keep its benchmark short-term rate close to zero through mid-2015.

The Federal Reserve said in September it will purchase an average of USD40 billion of mortgage-backed securities a month until the economy shows significant improvement.

The U.S. is the world�s biggest oil consuming country, responsible for almost 22% of global oil demand.

Meanwhile, market players eyed developments surrounding Spain, amid ongoing uncertainty over whether the debt-strapped country is moving closer to formally requesting a bailout from its euro zone partners.

A bailout would allow the European Central Bank to step in and buy Spanish sovereign debt, which would result in reduced borrowing costs for the debt-strapped nation. But Spain has been reluctant to do so because it may come with conditions on its budget.

Oil traders also continued to focus on tensions between Syria and Turkey and the possibility that Iran could support Syria in such a dispute.

Violence also spilled over to neighboring Lebanon in recent days, fuelling concerns over a region-wide conflict.

Countries in the Middle East and North Africa were responsible for 36% of global oil production and held 52% of proved reserves in 2011.

Elsewhere, on the ICE Futures Exchange, Brent oil futures for December delivery added 0.15% to trade at USD107.98 a barrel, with the spread between the Brent and crude contracts standing at USD22.38 a barrel.

London-traded Brent prices have been well-supported in recent sessions, as a combination of lingering concerns over a disruption to supplies from the Middle East and worries over declining production in the North Sea-region have been boosting prices.

[yudijoni]

Oil waited rebound and when back through support at 87.51 taken out a sell at 87.50 to 86.90 and stop loss targets at 87.90, to 83.64 bearish target probability.

[raihan8212]

Crude oil futures turned lower during U.S. morning hours on Thursday, re-approaching the previous session�s three-month low as investors reacted to a flurry of U.S. economic data.

Ongoing concerns over the outlook for global economic growth and the impact on future oil demand prospects continued to dampen the appeal of the commodity.

On the New York Mercantile Exchange, light sweet crude futures for delivery in December traded at USD85.60 a barrel during U.S. morning trade, dipping 0.15%.

New York-traded oil prices rose by as much as 1.1% earlier in the day to hit a session high of USD86.73 a barrel. Future fell to USD84.95 a barrel on Wednesday, the weakest level since July 12.

In the U.S., the National Association of Realtors said its pending home sales index rose by 0.3% in September, below expectations for a 2.1% gain.

The data came after a government report showed that durable goods orders, which include transportation items, jumped by a seasonally adjusted 9.9% in September, compared to expectations for a 7.1% gain.

Excluding volatile transportation items durable goods orders rose by a seasonally adjusted 2.0% last month, beating expectations for a 0.8% gain.

Separately, the Labor Department said the number of people who filed for unemployment assistance in the U.S. last week fell to 369,000, from 392,000 the previous week, compared to expectations for a decrease to 370,000.

On Wednesday, the Federal Reserve announced no new measures at the end of its policy-setting meeting. In its rate statement, the central bank said the U.S. economy is improving moderately, but said job growth has been slow and the unemployment rate remains elevated.

The Fed also said it planned to keep its benchmark short-term rate close to zero through mid-2015.

The Federal Reserve said in September it will purchase an average of USD40 billion of mortgage-backed securities a month until the economy shows significant improvement.

The U.S. is the world�s biggest oil consuming country, responsible for almost 22% of global oil demand.

Meanwhile, market players eyed developments surrounding Spain, amid ongoing uncertainty over whether the debt-strapped country is moving closer to formally requesting a bailout from its euro zone partners.

A bailout would allow the European Central Bank to step in and buy Spanish sovereign debt, which would result in reduced borrowing costs for the debt-strapped nation. But Spain has been reluctant to do so because it may come with conditions on its budget.

Oil traders also continued to focus on tensions between Syria and Turkey and the possibility that Iran could support Syria in such a dispute.

Violence also spilled over to neighboring Lebanon in recent days, fuelling concerns over a region-wide conflict.

Countries in the Middle East and North Africa were responsible for 36% of global oil production and held 52% of proved reserves in 2011.

Elsewhere, on the ICE Futures Exchange, Brent oil futures for December delivery added 0.15% to trade at USD107.98 a barrel, with the spread between the Brent and crude contracts standing at USD22.38 a barrel.

London-traded Brent prices have been well-supported in recent sessions, as a combination of lingering concerns over a disruption to supplies from the Middle East and worries over declining production in the North Sea-region have been boosting prices.

[VANDA_S]

At the H4 chart, the price is below 12 EMA (red) and 72 EMA (blue) indicates the trend is still nturun
21 RSI is below 50 indicates the trend is still down
Recommendation: SELL
Target: 83.75

[nurdiantofxwave]

Movement rebound in OIL should try resistance at 86.96. If successful breakout here, we see 87.15 and 87.45 as the next resistance, with support now at 86.25. Stochastic signal shown in overbought area that affect for oil to retrace down.

[raihan8212]

Crude oil futures rebounded from the lowest level since July during European morning hours on Thursday, as appetite for growth-linked assets strengthened after the Federal Reserve said that some aspects of the U.S. economy were improving.

On the New York Mercantile Exchange, light sweet crude futures for delivery in December traded at USD86.33 a barrel during European morning trade, climbing 0.7%.

New York-traded oil prices rose by as much as 1% earlier in the day to hit a session high of USD86.61 a barrel. Future fell to USD84.95 a barrel on Wednesday, the weakest level since July 12.

The Federal Reserve announced no new measures at the end of a two-day meeting Wednesday, after the central bank announced its third round of quantitative easing last month.

In its rate statement, the Fed said the U.S. economy is improving moderately, but said job growth has been slow and the unemployment rate remains elevated.

The Fed also said it planned to keep its benchmark short-term rate close to zero through mid-2015.

The Federal Reserve said in September it will purchase an average of USD40 billion of mortgage-backed securities a month until the economy shows significant improvement.

Later in the day, the U.S. was to release official data on durable goods orders, as well as reports on pending home sales and initial jobless claims. The country is scheduled to release third quarter growth data on Friday.

The U.S. is the world�s biggest oil consuming country, responsible for almost 22% of global oil demand.

Some bargain buying also helped lift oil futures off the lows, after prices moved into oversold territory. Technical traders said prices had fallen too far, too fast and were due for a technical bounce.

Oil prices have been under heavy selling pressure in recent sessions, as increasing concerns over the outlook for global economic growth and the impact on future oil demand prospects dampened the appeal of the commodity.

Elsewhere, oil traders continued to focus on tensions between Syria and Turkey and the possibility that Iran could support Syria in such a dispute.

Violence also spilled over to neighboring Lebanon in recent days, fuelling concerns over a region-wide conflict.

Countries in the Middle East and North Africa were responsible for 36% of global oil production and held 52% of proved reserves in 2011.

Elsewhere, on the ICE Futures Exchange, Brent oil futures for December delivery added 0.65% to trade at USD108.58 a barrel, with the spread between the Brent and crude contracts standing at USD22.25 a barrel.

London-traded Brent prices have been well-supported in recent sessions, as a combination of lingering concerns over a disruption to supplies from the Middle East and worries over declining production in the North Sea-region have been boosting prices.

[turabawan8]

USD/JPY surpasses 80.00

Risk sentiment is blooming on Thursday and allowed a successful attempt at breaching the 80.00 mark, triggering an extension to 80.19 high, for now. The Nikkei Stock Average closed higher by 1.11%.

Helping the movement are reports that the BoJ is considering to intervene with extra �10 Trillion is asset purchases. Foreign investment in Japan stocks rose from �-26.7B to �195.2B in the week ending at October 19. In the same week, foreign bond investment eased from �705.3B to �474.6B. Corporate service price fell further, from -0.3% to -0.5% in September, in line with consensus.

[sokcool]

Oil is very suit to be understood....

---------- Post added at 02:04 PM ---------- Previous post was at 02:03 PM ----------

oil is very difficult to understand....

---------- Post added at 02:05 PM ---------- Previous post was at 02:04 PM ----------

oil is very difficult to understand....

[ashaab]

The short term trend of the Oil is to the upside. Intraday trading range of the Oil is expected among key support at 82.80 and key resistance at 87.70. Based upon my chart analysis, I prefer to selling the Oil around 86.25 with targets 84.50 then 83.00 and stoploss with four hour candle closing above 87.70.

[raihan8212]

Crude oil futures traded down during U.S. hours Wednesday, adding to losses after a U.S. government report showed oil supplies rose more-than-expected last week.

On the New York Mercantile Exchange, light sweet crude futures for delivery in December traded at USD85.73 a barrel during U.S. afternoon trade, tumbling 1.10%.

New York-traded oil prices fell by as much as 1.4% earlier in the day to trade at a session low USD85.58 a barrel, the weakest level since July 12.

Prices traded at USD86.45 a barrel prior to the release of the EIA data.

The U.S. EIA said in its weekly report that U.S. crude oil inventories increased by 5.9 million barrels in the week ended October 19, compared to expectations for a 1.9 million barrel increase.

Total U.S. crude oil inventories stood at 375.1 million barrels as of last week.

Total motor gasoline inventories increased by 1.4 million barrels, compared to expectations for a gain of 0.67 million barrels.

Oil traders shrugged off a report showing U.S. new home sales rose more-than-expected in September, hitting the highest level since April 2010.

The U.S. is the world’s biggest oil consuming country, responsible for almost 22% of global oil demand.

New York-traded oil prices were weaker ahead of the supply report after a string of downbeat manufacturing data out of the euro zone reinforced concerns over the outlook for global growth.

Markit said that its flash euro zone manufacturing purchasing managers’ index fell 45.3 in October from a final reading of 46.1 in September. Analysts had expected the index to ease up to 46.6 in October.

Germany’s flash manufacturing PMI fell to 45.7 in October, from a final reading of 47.4 in September, disappointing expectations for an improvement to 48.0.

Meanwhile, a report by German research institute Ifo showed that its business climate index fell to100.0 in October, the lowest level since March 2010, from a reading of 101.4 in September.

Oil futures remained supported after a report showed that China's HSBC manufacturing PMI came in at 49.1 in October, compared with a final reading of 47.9 in September.

China is the world's second largest oil consumer after the U.S. and has been the engine of strengthening demand.

Market participants also awaited the conclusion of the Federal Reserve's two-day policy-setting meeting later in the day, after the central bank announced its third round of quantitative easing last month.

Elsewhere, oil traders continued to focus on tensions between Syria and Turkey and the possibility that Iran could support Syria in such a dispute.

Violence also spilled over to neighboring Lebanon in recent days, fuelling concerns over a region-wide conflict.

Countries in the Middle East and North Africa were responsible for 36% of global oil production and held 52% of proved reserves in 2011.

Elsewhere, on the ICE Futures Exchange, Brent oil futures for December delivery fell 0.55% to trade at USD107.66 a barrel, with the spread between the Brent and crude contracts standing at USD22.03 a barrel.

London-traded Brent prices have been well-supported in recent sessions, as a combination of lingering concerns over a disruption to supplies from the Middle East and worries over declining production in the North Sea-region have been boosting prices.