The SPR release is cutting into the draw downs now but support is always nearby. Thanks for the data, every bit helps. I think oil floats up in price and then down TUE night before IAE inventories WED. Then a buying opportunity again Friday.

WTI Crude Oil Trading

This is the great thing about trading oil guys; even on the way down there are so many bounces. Like a beach ball under water it pops back up faster than FOREX, Indexes or Metals. I've learned the instrument you trade is a MAJOR factor in your ...

WTI Crude Oil Trading

$90? url She says $95 but fundamentals are bearish. This is the 1st week we have seen an inventory build-up and not a draw down.

WTI Crude Oil Trading

Wow, another segment downward for sure to that $95 zone. SPR release and Shanghai lockdown is taking effect already.

WTI Crude Oil Trading

Grabbed USD/CAD because I was too scared to short oil this at $104 when the high was $126. This market is ready to get slammed and oil is a target. Latest Fed news: Stronger action needed and accommodation must be removed. Going to get fun.

WTI Crude Oil Trading

Yes, lower lows. 95 this week after inventories Wednesday?

WTI Crude Oil Trading

I don't want to short oil this low but the SPR release and Shanghai lockdown, the technicals also. BEARISH.

WTI Crude Oil Trading

Should get a bounce off of the 50 Day Ema to 101 or so then down from here until Wed?

WTI Crude Oil Trading

We should see $92.50 next week and with a resistance of $97. Commodity prices are a target by the Fed even though it is not spoken of. The only ones who do well are oil related companies in this environment. A little further out near May watch out. ...

WTI Crude Oil Trading

All the more reason to step up the Fed tightening and withdraw monetary support at a faster pace.

WTI Crude Oil Trading

95 is coming. These are just temporary moves up and down. The real uptrend will not resume until 89 or so.

WTI Crude Oil Trading

OPEC today and NFP Friday. Going to be volatile.

WTI Crude Oil Trading

So Biden has opened the spigot, 1 million barrels a day from the SPR. He caused me to cut a loss.

WTI Crude Oil Trading

Yes if OPEC sticks to the production increase they set for May. If tomorrow at the press release they promise more output then down.

Crude Oil

Low or mid $90's would be a good place to build long positions.

WTI Crude Oil Trading

3.4 Million Barrel draw down. OIL UP. OPEC either will not increase production at all or very little tomorrow. My guess we close up a $108.90 Friday.

WTI Crude Oil Trading

I agree with the war assessment and it will be a long drawn out process with oil sanctions still in place and minus too many barrels from the U.S. market every week. Only a complete peace deal with troop withdrawals and guarantees would cause a knee ...

WTI Crude Oil Trading

Closed my $105 daily contracts purchased last night just now at $108.25. Booked that profit and pulled risk and gains off the table. I also have some weekly expires for Friday at 105.75 and I'm letting these run.

WTI Crude Oil Trading

OPEC meeting THU. Read that they cannot even fulfill the current quota from the last increase so they will stand pat and keep production where it is. So far API Inventory is bullish, IEA data in a few hours most likely a draw, bullish again. OPEC ...

WTI Crude Oil Trading

A sudden announcement of a peace deal for Ukraine will surely bring it down to 92.

WTI Crude Oil Trading