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All You need to know more about Oil Commodities before you Invest in Forex

oil news

Oil is the most preferred commodity in forex trading. There are two indexes there – WTI and Brent and

each one of them corresponds to their buyers accordingly. Since oil is one of the most valuable resources

on earth – the prices are affected by almost everything – currency fall, the political dynamics, geopolitical

steps, world around us, and more.


Although the lockdown sparked a positive recovery trend in Oil prices increase in the number of

infections of COVID-19 cases in the US put the brakes and they inched lower on 8 and 9 July but still, the

positivity remains in the market.


Higher crude oil imports are leading to huge positive as per the chief financial officer at Velandera

Energy, Manish Raj. He is forecasting a growing domestic oil demand and as the transport of oil has

started too, oil demands will grow surely.

LTI has given trendline breakout - Dalal Street Investment Journal

Data from The Energy Information Administration reports that US crude inventories rose by 5.7 billion

barrels on July 3. The huge demand and increasing imports are leading to solid build in oil inventories.

It seems that the market still has the possibility of going down so it will be a high time for investors to

buy oil at cheaper rates.


WTI (West Texas Intermediate) Crude Oil market was sitting at resistance for few days but it pulled back

on Thursday and our forex signal provider is saying there is still a possibility for more dip.

Brent Markets was going through volatility and it also pulled back on the 9 th of July. Comparing it with

the WTI market, Brent Market will go up for some time. Forex tip is that the top-level may reach 45.50

USD but you have to keep a close eye on the prices for the coming days. There is an opportunity lurking



The main cause behind this turbulence is the rising number of Covid-19 cases in America and it is

affecting the production capacity of crude oil. These huge shifts in production capacities may lead to

undersupply which is making the market a little bit afraid about the future. Despite all this, the demand

for Gasoline is ever increasing. Recently the imports in the US jumped by 1.8 million barrels per day to

3.2 million per day.


State economy holds steady amid recession talk - Lens

In concluding words, the world seems to be gradually coming out of the pandemic and things are going

back as they were, but still, there is some speculation about the fall and that fall will be the perfect

opportunity to make the move.


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