Oil N’ Gold – Action Forex https://www.actionforex.com Live Forex Analysis, Currency Rates, Economic Calendar, Technical Forecast, Fundamental News, Free Trading Signals. Best. USD Dollar, EUR Euro, JPY Yen, GBP Pound, CHF Swiss Franc, CAD Canadian Dollar, AUD Australian Dollar, NZD New Zealand Dollar Tue, 07 Jul 2020 04:15:57 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.2 CFTC Commitments of Traders – Bets on Higher Energy Prices Dropped Across the Board https://www.actionforex.com/action-insight/oil-n-gold/308820-cftc-commitments-of-traders-bets-on-higher-energy-prices-dropped-across-the-board/ https://www.actionforex.com/action-insight/oil-n-gold/308820-cftc-commitments-of-traders-bets-on-higher-energy-prices-dropped-across-the-board/#respond Tue, 07 Jul 2020 04:13:23 +0000 https://www.actionforex.com/?p=308820 According to the CFTC Commitments of Traders report for the week ended June 30, NET LENGTH for crude oil futures plunged -17 057 contracts to 543 826 for the week. Speculative long positions dropped -6 864 contracts while shorts rose +10 193 contracts. For refined oil products, NET LENGTH for gasoline declined -3 023 contracts […]

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US Crude Inventory Saw Biggest Decline since Early January https://www.actionforex.com/action-insight/oil-n-gold/307724-us-crude-inventory-saw-biggest-decline-since-early-january/ https://www.actionforex.com/action-insight/oil-n-gold/307724-us-crude-inventory-saw-biggest-decline-since-early-january/#respond Thu, 02 Jul 2020 01:27:05 +0000 https://www.actionforex.com/?p=307724 The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +1.12 mmb to 1451.78 mmb in the week ended June 26. Crude oil inventory plunged -7.2 mmb (consensus: -0.71 mmb) to 533.53 mmb. The size of the fall is the largest since the first […]

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Another Week Of US Stock-build Dampened Crude Oil Price https://www.actionforex.com/action-insight/oil-n-gold/305969-another-week-of-us-stock-build-dampened-crude-oil-price/ https://www.actionforex.com/action-insight/oil-n-gold/305969-another-week-of-us-stock-build-dampened-crude-oil-price/#respond Thu, 25 Jun 2020 05:12:28 +0000 https://www.actionforex.com/?p=305969 The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose +7.09 mmb to 1446.72 mmb in the week ended June 19. Crude oil inventory added +1.44 mmb (consensus: +0.3 mmb) to 540.72 mmb. Stockpile rose in 3 out of 5 PADDs. Cushing stock dropped […]

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Gold’s Rally Set to Resume, Supported by Low Yield, Geopolitics and Second Virus Wave https://www.actionforex.com/action-insight/oil-n-gold/305306-golds-rally-set-to-resume-supported-by-low-yield-geopolitics-and-second-virus-wave/ https://www.actionforex.com/action-insight/oil-n-gold/305306-golds-rally-set-to-resume-supported-by-low-yield-geopolitics-and-second-virus-wave/#respond Tue, 23 Jun 2020 02:20:51 +0000 https://www.actionforex.com/?p=305306 Gold price has gained +2.6% since our last update. Less than $1/oz shy of the all-time high, it is likely that yellow metal’s rally will resume very soon. Indeed, expansionary monetary policy, renewed geopolitical tensions in Asia (between North and South Korea, and between India and China, and concerns over the second wave of coronavirus […]

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CFTC Commitments of Traders – Traders Trimmed Bets on Crude Oil as Price Climbed to 3-Month High https://www.actionforex.com/action-insight/oil-n-gold/304869-cftc-commitments-of-traders-traders-trimmed-bets-on-crude-oil-as-price-climbed-to-3-month-high/ https://www.actionforex.com/action-insight/oil-n-gold/304869-cftc-commitments-of-traders-traders-trimmed-bets-on-crude-oil-as-price-climbed-to-3-month-high/#respond Sat, 20 Jun 2020 13:29:00 +0000 https://www.actionforex.com/?p=304869 According to the CFTC Commitments of Traders report for the week ended June 16, NET LENGTH for crude oil futures plunged -21 637 contracts to 546 272 for the week. Speculative long positions declined -26 451 contracts while shorts dropped -4 814 contracts. For refined oil products, NET LENGTH for gasoline added +2 531 contracts to […]

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US Crude Inventory Surprisingly Increased, while Petroleum Product Stocks Declined https://www.actionforex.com/action-insight/oil-n-gold/304176-us-crude-inventory-surprisingly-increased-while-petroleum-product-stocks-declined/ https://www.actionforex.com/action-insight/oil-n-gold/304176-us-crude-inventory-surprisingly-increased-while-petroleum-product-stocks-declined/#respond Thu, 18 Jun 2020 02:17:13 +0000 https://www.actionforex.com/?p=304176 The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose +7.09 mmb to 1446.72 mmb in the week ended June 12. Crude oil inventory added +1.22 mmb (consensus: -0.15 mmb) to 538.07 mmb. Stockpile fell in 2 out of 5 PADDs. PADD 3 (Gulf […]

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Downside Risks of Crude OIl Price Rising Despite Recent Optimism https://www.actionforex.com/action-insight/oil-n-gold/303865-downside-risks-of-crude-oil-price-rising-despite-recent-optimism/ https://www.actionforex.com/action-insight/oil-n-gold/303865-downside-risks-of-crude-oil-price-rising-despite-recent-optimism/#respond Wed, 17 Jun 2020 06:05:25 +0000 https://www.actionforex.com/?p=303865 Crude oil prices have remained firm, supported by positive news from both OPEC+ and better demand/supply outlook. The latest monthly report by the International Energy Agency (IEA) has depicted a more optimistic outlook on the oil market. The agency raised its global oil demand forecast to 91.7M bpd for this year, up +0.5M bpd from […]

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CFTC Commitments of Traders – Renewed Coronavirus Concerns may Lead to New Rally in Gold https://www.actionforex.com/action-insight/oil-n-gold/303040-cftc-commitments-of-traders-renewed-coronavirus-concerns-may-lead-to-new-rally-in-gold/ https://www.actionforex.com/action-insight/oil-n-gold/303040-cftc-commitments-of-traders-renewed-coronavirus-concerns-may-lead-to-new-rally-in-gold/#respond Sat, 13 Jun 2020 14:21:06 +0000 https://www.actionforex.com/?p=303040 Gold price continued to consolidate at top range. As we mentioned in the previous report, the yellow metal will resume recent rally after pullback. Renewed concerns about third wave of coronavirus outbreak in the US and China are expected to drive demand for gold. This could lead to increase in long bets on the yellow […]

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Pick-up in US Oil Inventory and OPEC+’s Compliance Problem have Capped Crude’s Upside https://www.actionforex.com/action-insight/oil-n-gold/302318-pick-up-in-us-oil-inventory-and-opecs-compliance-problem-have-capped-crudes-upside/ https://www.actionforex.com/action-insight/oil-n-gold/302318-pick-up-in-us-oil-inventory-and-opecs-compliance-problem-have-capped-crudes-upside/#respond Thu, 11 Jun 2020 03:30:52 +0000 https://www.actionforex.com/?p=302318 The excitement brought by OPEC+’s agreement to extend the output cut deal for a month to July short-lived. Crude oil price only climbed modestly higher after the news. Gains were quickly evaporated. Concerning OPEC+, the market is mainly concerned about compliance by some participants. A survey by S&P estimated that OPEC’s 13 members lowered production […]

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CFTC Commitments of Traders – Traders Bet Higher Crude Oil Price, and Lower Gold Price, as Risk Appetite Returned https://www.actionforex.com/action-insight/oil-n-gold/301181-cftc-commitments-of-traders-traders-bet-higher-crude-oil-price-and-lower-gold-price-as-risk-appetite-returned/ https://www.actionforex.com/action-insight/oil-n-gold/301181-cftc-commitments-of-traders-traders-bet-higher-crude-oil-price-and-lower-gold-price-as-risk-appetite-returned/#respond Sun, 07 Jun 2020 08:47:46 +0000 https://www.actionforex.com/?p=301181 According to the CFTC Commitments of Traders report for the week ended June 2, NET LENGTH for crude oil futures rose +25 756 contracts to 568 330 for the week. Speculative long positions soared +27 938 contracts while shorts added +2 182 contracts. For refined oil products, NET LENGTH for gasoline declined -7 832 contracts […]

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US Oil Inventory Surprisingly Dropped https://www.actionforex.com/action-insight/oil-n-gold/300429-us-oil-inventory-surprisingly-dropped/ https://www.actionforex.com/action-insight/oil-n-gold/300429-us-oil-inventory-surprisingly-dropped/#respond Thu, 04 Jun 2020 02:58:15 +0000 https://www.actionforex.com/?p=300429 The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose 5.04 mmb to 1399.92 mmb in the week ended May 29. Crude oil inventory dropped -2.08 mmb (consensus: +3.04 mmb) to 532.35 mmb. Stockpile fell in 3 out of 5 PADDs. Cushing stock dropped […]

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CFTC Commitments of Traders – Traders Took Profit on Gold after Failing to Break New High https://www.actionforex.com/action-insight/oil-n-gold/299265-cftc-commitments-of-traders-traders-took-profit-on-gold-after-failing-to-break-new-high/ https://www.actionforex.com/action-insight/oil-n-gold/299265-cftc-commitments-of-traders-traders-took-profit-on-gold-after-failing-to-break-new-high/#respond Sat, 30 May 2020 08:57:20 +0000 https://www.actionforex.com/?p=299265 According to the CFTC Commitments of Traders report for the week ended May 26, NET LENGTH for crude oil futures dropped -1 029 contracts to 542 574 for the week. Speculative long positions gained +9 217 contracts while shorts jumped +10 246 contracts. For refined oil products, NET LENGTH for gasoline dropped -1 950 contracts […]

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US Crude Inventory and Imports Surprisingly Increased https://www.actionforex.com/action-insight/oil-n-gold/298572-us-crude-inventory-and-imports-surprisingly-increased/ https://www.actionforex.com/action-insight/oil-n-gold/298572-us-crude-inventory-and-imports-surprisingly-increased/#respond Fri, 29 May 2020 05:35:57 +0000 https://www.actionforex.com/?p=298572 Crude oil inventory in the US surprisingly increased last week. Meanwhile imports also jumped due to shipment from Saudi Arabia. Supply in the US was partly offset by further decline in domestic production. The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose 5.04 […]

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Gold will Regain Momentum after Correction, Supported by Low Yield and US-China Tensions https://www.actionforex.com/action-insight/oil-n-gold/298424-gold-will-regain-momentum-after-correction-supported-by-low-yield-and-us-china-tensions/ https://www.actionforex.com/action-insight/oil-n-gold/298424-gold-will-regain-momentum-after-correction-supported-by-low-yield-and-us-china-tensions/#respond Thu, 28 May 2020 04:27:54 +0000 https://www.actionforex.com/?p=298424 We expect gold’s rally to resume after correction. Although there are signs that the coronavirus pandemic is stabilizing, the recovery path of global economy remains thorn and gradual. Central banks around the world will have to maintain expansionary monetary policy, pressing interest rates to zero, if not negative. Meanwhile, renewed tensions between the US and […]

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CFTC Commitments of Traders – Traders Bet Precious Metals to Go Higher https://www.actionforex.com/action-insight/oil-n-gold/297414-cftc-commitments-of-traders-traders-bet-precious-metals-to-go-higher/ https://www.actionforex.com/action-insight/oil-n-gold/297414-cftc-commitments-of-traders-traders-bet-precious-metals-to-go-higher/#respond Sun, 24 May 2020 05:43:28 +0000 https://www.actionforex.com/?p=297414 According to the CFTC Commitments of Traders report for the week ended May 19, NET LENGTH for crude oil futures added +2 584 contracts to 543 603 for the week. Speculative long positions declined -17 540 contracts while shorts slumped -20 124 contracts. For refined oil products, NET LENGTH for gasoline dropped -3 148 contracts […]

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Crude Oil Price Supported by Decline in US Inventory. Cushing Stock Recorded Sharpest Fall on History https://www.actionforex.com/action-insight/oil-n-gold/296769-crude-oil-price-remains-supported-by-decline-in-us-inventory-cushing-stock-recorded-sharpest-fall-on-history/ https://www.actionforex.com/action-insight/oil-n-gold/296769-crude-oil-price-remains-supported-by-decline-in-us-inventory-cushing-stock-recorded-sharpest-fall-on-history/#respond Thu, 21 May 2020 04:00:52 +0000 https://www.actionforex.com/?p=296769 Crude oil prices continued to climbed higher. The front-month WTI contract has strengthened for six consecutive days. The latest catalyst is another week of surprising decline in US inventory. The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose 5.04 mmb to 1399.92 mmb […]

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Crude Oil Price Supported by Improved Fundamentals; Upside Limited https://www.actionforex.com/action-insight/oil-n-gold/295864-crude-oil-price-support-by-better-fundamentals-upside-limited/ https://www.actionforex.com/action-insight/oil-n-gold/295864-crude-oil-price-support-by-better-fundamentals-upside-limited/#respond Mon, 18 May 2020 08:23:05 +0000 https://www.actionforex.com/?p=295864 Expiring tomorrow (May 19), the front-month WTI crude contract continues to climb higher. At the time of writing this report, price is trading narrowly around US$30/bbl, up almost 50% from end of April. Recall that last month, the WTI futures for April delivery collapsed to the negative territory before expiry amidst the lack of storage […]

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CFTC Commitments of Traders – Traders Trimmed Bets on Crude Oil, while Net Length on Gold Declined https://www.actionforex.com/action-insight/oil-n-gold/295597-cftc-commitments-of-traders-traders-trimmed-bets-on-crude-oil-while-net-length-on-gold-declined/ https://www.actionforex.com/action-insight/oil-n-gold/295597-cftc-commitments-of-traders-traders-trimmed-bets-on-crude-oil-while-net-length-on-gold-declined/#respond Sat, 16 May 2020 13:21:38 +0000 https://www.actionforex.com/?p=295597 Traders trimmed bets on crude oil futures. Although output cuts by OPEC+ and in the US have temporarily relieved storage, the outlook of the oil market remains uncertain. Macroeconomic data from major economies suggest that unemployment is rising. This could lead to demand disruption, and eventually cause selloff in oil prices. NET LENGTH on gold […]

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Unexpected Decline in US Inventory Lent Support to Oil Price https://www.actionforex.com/action-insight/oil-n-gold/294904-unexpected-decline-in-us-inventory-lent-support-to-oil-price/ https://www.actionforex.com/action-insight/oil-n-gold/294904-unexpected-decline-in-us-inventory-lent-support-to-oil-price/#respond Thu, 14 May 2020 04:03:48 +0000 https://www.actionforex.com/?p=294904 The front-month WTI crude oil contract strengthened to the highest level in more than a month. The WTI-Brent spread also narrowed to the level not seen since March 31. The recovery in WTI crude price was helped by the unexpected decline in US oil inventory. The report from the US Energy Information Administration (EIA) shows […]

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CFTC Commitments of Traders – NET LENGTH in Crude Oil Futures Declined after Weeks of Price Recovery https://www.actionforex.com/action-insight/oil-n-gold/293725-cftc-commitments-of-traders-net-length-in-crude-oil-futures-declined-after-weeks-of-price-recovery/ https://www.actionforex.com/action-insight/oil-n-gold/293725-cftc-commitments-of-traders-net-length-in-crude-oil-futures-declined-after-weeks-of-price-recovery/#respond Sat, 09 May 2020 10:07:55 +0000 https://www.actionforex.com/?p=293725 WTI crude oil price continued to recover last week as increase in US inventory decelerated. The market also anticipated that demand would gradually improve amidst signs of stabilization in the coronavirus pandemic. However, caution is still warranted as storage at  Cushing, the delivery point of WTI crude oil, is approaching full capacity. According to the […]

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