Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

As Oil Moves Higher, Should You Enter The Trade?

By Sunshine Profits (Arkadiusz Sieron)CommoditiesSep 27, 2021 02:15PM ET
www.investing.com/analysis/as-oil-moves-higher-should-you-enter-the-trade-200603203
As Oil Moves Higher, Should You Enter The Trade?
By Sunshine Profits (Arkadiusz Sieron)   |  Sep 27, 2021 02:15PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

With supply slipping and solid prospects for demand, the black gold continues to rise, notably dragged by natural gas along with it, as we may see a shift in demand from natural gas to oil. A barrel of North Sea Brent for November delivery peaked at $79.50, up 1.4% from Friday's close. After four consecutive sessions in the green, buyers are not weakening. According to Goldman Sachs, the recovery in global demand is indeed faster than expected.

On the supply side, U.S. production in the Gulf of Mexico is still cut by some 300,000 barrels per day, a month after Hurricane Ida hit, according to the latest data from the Bureau of Safety and Environmental Enforcement (BSEE). In this environment, the OPEC+ meeting next Monday should raise more attention, even though an immediate change in the cartel’s policy seems unlikely for now.

On the UK side, BP (NYSE:BP) said 30% of its gas stations ran out of fuel on Sunday as a rush of panicked consumers to pumps forced the British government to suspend competition rules. According to major oil groups, a shortage of truck drivers makes it difficult to get fuel from refineries. Some operators had to implement rationing while others have closed stations.

As Oil Moves Higher, Should You Enter The Trade?
 

Related Articles

Craig Erlam
Gold: A Breakout Is Coming By Craig Erlam - Oct 27, 2021 7

Can the recovery continue?Gold has recovered strongly in recent weeks but it’s struggled for momentum since breaking above $1,800. The yellow metal initially broke above here...

Phil Flynn
The Energy Report: Back To The Table By Phil Flynn - Oct 27, 2021 2

Iran says it is finally ready for direct negotiations with the European participants to the 2015 nuclear deal. Oh, joy. Iran has continued to stonewall inspectors from the...

As Oil Moves Higher, Should You Enter The Trade?

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (4)
Allen Drewe
Allen Drewe Sep 27, 2021 10:32PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This is just the beginning. Oil and natgas are going to explode this winter
Miles Mathewson
Miles Mathewson Sep 27, 2021 8:31PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
it only shows that the WORLD is now even more dependent on OIL, despite all this hype on EV and H2!!!
Andrew Ulferts
Andrew Ulferts Sep 27, 2021 8:11PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Why is there a shortage of truck drivers? Nobody seems to include that in their report.
Joseph Obrzut
jzut Sep 27, 2021 5:10PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Not now. IYE and XLE should've been bought when the world ended "again" Apr May of 2020. And if you missed that you had another chance in Oct Nov of 2020. Buy low. That's what I did.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email