Crude Oil forecast & technical analysis wti Added Gains Dec 13

Crude Oil forecast & technical analysis wti Added Gains Dec 13

Crude Oil forecast & technical analysis wti Added Gains Dec 13

  • oil is trading at $58.29 per barrel
  • crude oil traded at a high of $58.55 per barrel and a low of $57.90
  • first support at $57.39 per barrel

 wti Added Gains – supply disruptions caused by a temporary shutdown of the Forties North Sea pipeline

At 10:40 GMT, the commodity is trading at $58.29 per barrel, 0.47% higher from the New York close. During the session, crude oil traded at a high of $58.55 per barrel and a low of $57.90 per barrel.

Oil prices edged lower on Wednesday, as investors looked ahead to weekly data from the U.S. on stockpiles of crude and refined products.

wti Added Gains

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The commodity advanced in the New York session yesterday, closing 0.78% higher at $58.02 per barrel, as supply disruptions caused by a temporary shutdown of the Forties North Sea pipeline boosted demand for the commodity. Crude oil has its first support at $57.39 per barrel and its first resistance at $58.87 per barrel.

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Commodities Buyers and Producers

The sale and purchase of commodities is usually executed through futures contracts on exchanges that standardize the quantity and minimal satisfactory of the commodity being traded. As an example, the Chicago board of trade stipulates that one wheat agreement is for five,000 bushels and also states what grades of wheat can be used to meet the settlement.

There are sorts of traders that change commodity futures. The first is customers and producers of commodities that use commodity futures contracts for the hedging functions for which they were first meant. Theses buyers truly make or take delivery of the actual commodity while the futures agreement expires. As an example, the wheat farmer that vegetation a crop can hedge towards the hazard of dropping money if the charge of wheat falls before the crop is harvested. The farmer can promote wheat futures contracts while the crop is planted and guarantee a predetermined price for the wheat at the time it’s far harvested.

Theses traders in no way have the desire to make or take transport of the real commodity while the futures agreement expires. Among the futures markets are very liquid and have an excessive degree of each day variety and volatility, making them very tempting markets for intraday buyers. A number of the index futures are utilized by brokerages and portfolio managers to offset threat. Additionally, since commodities do now not generally exchange in tandem with equity and bond markets, some commodities can also be used correctly to diversify a funding portfolio.




COMMODITIES: (CRUDE OIL) (SILVER) (GOLD)



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Jadtecnic

Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of InvestorsBuz.com, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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