Things are so volitile now with crude. Waiting to see how things work out in Venezuela. I'm sure others are too.
Nonetheless, I agree. According to the charts, crude is overbought. Might cause a sudden turn down, if it crosses the trendline.
https://www.cnbc.com/2019/04/30/oil-market-rising-us-and-opec-output-iran-sanctions-in-focus.html
Key Points
News from Monday:
Key Points
https://www.cnbc.com/2019/04/29/oil-market-trump-opec-output-us-iran-oil-sanctions-in-focus.html
US Crude oil inventories:
https://www.investing.com/economic-calendar/eia-crude-oil-inventories-75
Release Date | Time | Actual | Forecast | Previous | |
---|---|---|---|---|---|
May 01, 2019 | 10:30 | 2.093M | 5.479M | ||
Apr 24, 2019 | 10:30 | 5.479M | 1.255M | -1.396M | |
Apr 17, 2019 | 10:30 | -1.396M | -1.200M | 7.029M | |
Apr 10, 2019 | 10:30 | 7.029M | 2.294M | 7.238M | |
Apr 03, 2019 | 10:30 | 7.238M | -0.425M | 2.800M | |
Mar 27, 2019 | 10:30 | 2.800M | -1.100M | -9.589M |
Weekly US ending stocks of crude oil.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRSTUS1&f=W
Weekly ending stocks for unleaded gasoline.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WGTSTUS1&f=W
Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast).
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WDISTUS1&f=W
Current gas prices:
https://www.gasbuddy.com/GasPriceMap?z=4&lng=-96.591588&lat=38.822395