Speculation Freezing OPEC Rise Back, Oil Market Still Sanctions

Oil prices rose almost 3% on Monday yesterday (8/9/2016) after growing speculation that OPEC will again try to control their output. Rumors that appears is supported by the statement of the President of OPEC and Minister of energy of Russia, thus easing fears of a deluge of surplus oil that had previously been suppressing the price plummeted to a low level of up to three months. However, market participants still tend to be careful.

OPEC Would Freeze Output In September?
The Wall Street Journal late last week reported that OPEC countries such as Venezuela, Ecuador, and Kuwait, want to pioneer again the cooperation between the Member countries of OPEC with non-members such as Russia, in order to control the global oil supply. Similar alternative form of freezing the level of output was previously failed in April after Iran denied its demands to join the deal, while Saudi Arabia refused to run if not all OPEC member countries promised to do so.

Qatar's Energy Minister who also serves as the current President of OPEC, Mohammad bin Saleh al-Sada, yesterday stated that the decline in oil prices recently and the market volatility now is merely temporary. In addition, he indicated if OPEC continues to monitor developments and always rolling out active discussions to stabilize the market.

The comments further strengthened speculation will strive in his back output, possibly freezing cooperation at a meeting of an informal side by side with the International Energy Forum in Algeria on 26-28 September. Moreover, the Energy Minister of Russia, the world's largest oil producer countries, revealing that although it assesses the price of crude oil is not on the level that requires intervention, but he remains open to negotiating with OPEC.

The Rally In Oil Prices Is Still In Doubt
However, market participants have not yet entirely sure oil prices will recover again.
Most experts interviewed Reuters assumes that OPEC'S intervention inevitable, due to myself because of the growing number of u.s. oil wells and a weakening demand for oil. The reason, Baker Hughes on Saturday and then reported that the amount of oil drilling rigs in the land of Uncle Sam has increased for the sixth consecutive week, while crude oil supplies instead of dropping even grew.

However, most market participants addressing the current oil price rise with more caution. Last night alone, the price of oil briefly rose 4% to the highest price in one session, but then flattens out towards the closing of the market after news that the Louisiana Offshore Oil Port will increase its capacity of 2.5 million barrels in April 2017.

Matthew Tuttle Tuttle from Tactical Management in Connecticut, the United States, said, "until proven otherwise, (the rally in oil prices) this is still a correction in the market is bearish (price increase while only). You can experience the massive (price) movement like this, and if you could download the trading-fuck it up, (it) was great. But if you want to see the rally again to $ 50 and more than that, I'm not ready (memproyeksikannya). I think we will still see prices fall to below $ 35 a barrel before it gets to $ 50. "

The WTI oil prices currently are at a range of $ 42.60 a barrel, slightly lower than the closing last night at $ 43.02, but still above the low $ 40 level contained last week. Meanwhile, Brent oil is now traded in the range of $ 44.95, whereas last night closed at $ 59 a barrel.

USD Correction On the Start Month, Sell Oil

Analysis Of The Trend Of Major Oil
1. the USD continues to fall as it has been predicted in the previous analysis, downtrend long enough happening on USDX downloads so that the seller weekly indicated still controlled the market, however, with the declining trend of running long enough diperkirakana correction will happen, if the correction is happening today then a small reinforcement will occur in USD. that is because in the early months of volalilas that occurs is usually not large enough so that the bearish effects of last month's usually imposes a small reversal this month and further bearish again. the existence of these then prediction USD next is strengthened.

2. Oil is predicted to be slightly weakened along with meguatnya USD so that opportunities sell appeared on oil.



Analysis Of Trend Of Minor Oil
1. The oil continues to rise after a buy dbuka on previous analysis, price bounces diarea 41.93 which is the level that became a take profit on the previous analysis, plus of course SL to users already get the profit. with the rise of predictive USD then the oil could weaken so the sell can be opened on oil with limitations that are already formed.

2. Sell can be opened at the price now with stop loss at the level of 40.90 and take profit at 38.85 which is the nearest strong level below the current price. If the trader does not want to limit the profit with the take profit, then SL plus can be used when traders encountered the opportunity when prices are already pretty far from open positions in profit. Exclusively for users of the martingale which refers to oil journal, Journal of petroleum will use techniques that are more simple and bigger targets, the position of our previous anggab clear and started with a new account because it has been proven to be safe, look only at the journal oil.

3. sell Recommendation at current prices with stop loss at the level of 40.90 and take profit on-hold strategies plus SL, or can be put at 38.85. For users of martingale, a stop loss can be removed and carried out a diversified account as in the journal oil and forex cross. If there is an open signal positions, there comes a time position can be directly opened in the morning without waiting for price menyent uh strong level due to the martingale which do not use limitations as a measure of the level of risk or reward her, but only using the power balance. The rules of use of the lot must be followed to avoid the MC, so if MC happened then the other account is still there.

U.S. Company oil reserves decline, oil prices go up

Analysis Of The Trend Of Major Oil
1. Again oil companies in the U.S. is declining, the company can only supply about 2.3 million barrels for the production of the goods, this affects the production of goods at commercial companies because the majority of the industry use energy from petroleum products. Therefore, this may affect the country's production report as the USD in the US. After briefly predicted down on previous oil analysis, USD is predicted to be down again due to the activities of the perdaganggannya who experience barriers. in the point of view of oil prices, oil is also increasingly ride with the reason oil supply that is increasingly hard to come by.

2. with the reasons above predicted oil would go up and down so that the opportunity buy USD appear on oil.

 Analysis Of Trend Of Minor Oil
1. Oil experienced a very short pulses rose although quite small, but it can be a awakl rise in the price of oil for the long term if strong 43.45 level who also became a stop loss on the previous analysis, capable of reflecting the price back up. rising oil is also supported with the fundamental data as has been spelled out on a major trend analysis. buy diharga now can be opened with the limitations of the already formed on the minor trend of oil.

2. Buy can be opened at the price now with stop loss at the level of 42.36 and take profit at level a is the strong level of 43.36 closest above the current price. If the trader does not want to limit the profit with the take profit, then SL plus can be used when traders encountered the opportunity when prices are already pretty far from open positions in profit. Exclusively for users of the martingale which refers to oil journal, the position is still terfloating and trader must wait for a chance buy improvements.

3. Recommendation buy at current prices with stop loss at the level of 42.36 and take profit on-hold strategies plus SL, or could be put on the level of 43.36. For users of martingale, a stop loss can be removed and carried out a diversified account as in the journal oil and forex cross. If there is an open signal positions, there comes a time position can be directly opened in the morning without waiting for the price level because of strong martingale touches that do not use the constraints of level as a measure of risk/rewardnya, but only using the power balance. The rules of use of the lot must be followed to avoid the MC, so if MC happened then the other account is still there.

Surplus Continues, Oil Persists In Low Level Two Months

The price of crude oil is still lackluster in early trade this week (07/25/2016), after ending the trading session Friday at the lowest position in more than two months. The anxiety of the market will be the continued global surplus was further improved after data showed the increase number of Baker Hughes drilling wells (oil rigs) in the US.

When this news was taken, WTI crude oil prices on the New York Mercantile Exchange are at a range of $ 44.17 a barrel, while the price of international benchmark Brent on London's ICE Futures Exchange moved about $ 45.70.

Last weekend, the pernyedia service company Baker Hughes petroleum field reported that jumlag well drilling for oil in the United States increased from 357 to 371. This is a consecutive increase in the last four weeks, and instantly update the speculation if the activity of the oil shale in the US was ready to rebound.

Meanwhile, Reuters reported that the weak demand for FUEL and high oil inventory resulted in a number of U.S. refineries start early intermingling gasolin for winter.

In line with the high supply of fuel amid the global economic slowdown, oil prices would remain depressed even also predicted in the short term. CFTC commitment of Traders preach the perpetrators in u.s. markets has reduced their bullish positions on oil futures and options of 294.8 k be 289.6 k within a week which ended on 19 July. It is the lowest amount of the net long position in four months.

Commodities

TOKYO-Oil prices vary on Wednesday with Brent had limited gains and U.S. crude oil trade sideways before the release of official data of the weekly inventories later in the day.

Brent crude (LCOc1) rose 5 cents to $ 46.71 a barrel at 0652 GMT. On Tuesday, the contract settled 30 cents, or 0.6 per cent, at $ 46.66 a barrel.

West Texas Intermediate crude (WTI) USA (CLc1) remains unchanged at $ 44.65 a barrel, having traded higher initially and then declined. Fell 59 cents, or 1.3 percent, in the previous session. Next month August Contract will expire at the end of the session Wednesday.

"Trepidative looks a bit crude oil ahead of the weekly inventory report of another, while the strength of the dollar also helped to put nonsense on rallies, "Matt Smith, an analyst at cargo oil and energy data provider tracker Clipper Data, said in a blog post.

The dollar strengthened in Asian trade on Wednesday, as strong US data and rising expectations that the Bank of Japan will muster the additional easing measures sent the dollar index to the highest area in the last four months.

U.S. crude oil rose earlier after an industry group the American Petroleum Institute reported crude oil stockpiles dropped 2.3 million barrels last week. It's just over 2.1 million-barrel draw in a Reuters poll.

For distillation supplies including diesel, the API reported a surprise draw of 484,000 barrels. But it also shows there is an unexpected gasoline build from 805,000 barrels.

The Government's Energy Information Administration (EIA) U.S. stockpile data will issue on Wednesday. If the EIA confirms the withdrawal, it will be the ninth successive week that US crude oil stockpiles have fallen.

The excess supply of oil products, June gasoline output rising China 8.7 percent from last year to 11 million tonnes, or about 3.1 million barrels per day, the Bureau of Statistics said on Wednesday.

Diesel output last month dropped 4.5 percent from a year ago, while the supply of kerosene soared 10.5 percent, said the Bureau. liquid gas fuel, used mainly in cooking and sometimes for petrochemical raw materials, up 18.9 percent and production of nafta, mainly used for petrochemicals, up 15.7 percent from a year ago.