Oil

[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.

[hodhod2000]

The trading range for today is expected among the major support at 84.50 and the major resistance at 89.00.
The short-trend trend is to the upside with steady weekly closing above 78.00, targeting 104.65 and 110.55.

[turabawan8]

Pivot point (level of invalidation): 88.25

Our preference: Short positions with target at 88.2 to 85.7 and 84.4 in extension.

Alternative scenario: Above 88.25 we expect further upside with 89.9 and 91.25 of the target.

Technical Comments: as long as 88.25 resistance is not exceeded, the risk of rupture 85.7 remains high.

[raihan8212]

Crude oil futures edged up from the lowest level since July during European morning hours on Wednesday, however gains were capped after a string of weak manufacturing data out of the euro zone reinforced concerns over the outlook for global growth.

Oil traders were focusing on closely-watched weekly supply data on U.S. stockpiles of crude and refined products from the U.S. Energy Information Administration later in the day.

On the New York Mercantile Exchange, light sweet crude futures for delivery in December traded at USD86.89 a barrel during European morning trade, easing up 0.25%.

New York-traded oil prices traded in a range of USD87.47 a barrel, the daily high and a session low of USD86.27 a barrel. New York-traded oil prices fell to USD85.80 on Tuesday, the weakest level since July 13.

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.

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.

Oil traders looked ahead to weekly data from the U.S. government on oil supplies later in the day to gauge the strength of demand from the world’s largest oil consumer.

The report was expected to show that U.S. crude oil stockpiles increased by 1.9 million barrels last week, while gasoline inventories were forecast to rise by 0.7 million barrels.

After markets closed Tuesday, the American Petroleum Institute, an industry group, said that U.S. crude inventories rose by a modest 0.31 million barrels last week, while gasoline stocks increased 0.18 million barrels.

The U.S. is the world’s biggest oil consuming country, responsible for almost 22% of global oil 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 added 0.6% to trade at USD108.92 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.

---------- Post added at 09:45 PM ---------- Previous post was at 05:37 PM ----------

Crude oil futures fell to the lowest level since July during U.S. morning hours on 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 USD85.63 a barrel during U.S. morning trade, tumbling 1.2%.

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.

[ahmed fakhry]

Oil: December futures price of WTI dropped to $85.76 per barrel on the New York Mercantile Exchange. The Oil investors were focused on the weak global economy performances and its impact on oil demand thus silently reacted on probability of Iran's threat, which may halt exports of oil, if the West countries will apply more sanctions against the country.