Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

Crude oil rally intensifies; WTI surges 5% to top $50/bbl

Stock Markets Jan 09, 2019 12:26PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Crude oil rally intensifies; WTI surges 5% to top $50/bbl
 
NANR
+1.30%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DDG
0.00%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DUG
-2.07%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
RYE
+1.60%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
VDE
+1.17%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
FENY
+1.06%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
  • Crude oil prices roar back after earlier paring gains as government data showed U.S. crude stocks fell less than expected last week, with the WTI benchmark topping $50/bbl for the first time since mid-December on continued optimism over U.S.-China trade talks and Saudi production cuts; WTI +4.9% to $52.23/bbl, Brent +4.3% to $61.26/bbl.
  • "Oil has yet to have a losing session in 2019, and the near-term path of least resistance is still higher based on momentum and near-term technicals," according to the Sevens Report. "However, the longer-term outlook is still unclear as production/export cuts won't be enough to curb another bout of broad market volatility."
  • But PVM Oil analyst Stephen Brennock warns against excessive optimism, saying "buyers have placed all their betting chips on the U.S. and China resolving their trade spat" and noting that a failure to secure a meaningful breakthrough would spark a turnaround in sentiment.
  • ETFs: USO, XLE, OIL, UWT, UCO, VDE, XOP, DWT, ERX, OIH, SCO, BNO, DBO, ERY, DIG, BGR, GUSH, DTO, FENY, USL, IYE, DUG, DRIP, IEO, FIF, DNO, NDP, PXE, OLO, RYE, PXJ, SZO, CRAK, FXN, OLEM, WTIU, DDG, OILK, NANR, OILX, WTID, USOI, USOU, USOD, FTXN, JHME, ERYY, ERGF, OILD, OILU, USAI
  • Now read: Crude Oil Analytics: Potential Recovery Of Brent Crude Oil Price In 2019


Original article
Crude oil rally intensifies; WTI surges 5% to top $50/bbl
 

Related Articles

Germany stocks lower at close of trade; DAX down 0.19%
Germany stocks lower at close of trade; DAX down 0.19% By Investing.com - Nov 29, 2022

Investing.com – Germany stocks were lower after the close on Tuesday, as losses in the Construction, Chemicals and Software sectors led shares lower. At the close in Frankfurt,...

France stocks higher at close of trade; CAC 40 up 0.06%
France stocks higher at close of trade; CAC 40 up 0.06% By Investing.com - Nov 29, 2022

Investing.com – France stocks were higher after the close on Tuesday, as gains in the Consumer Goods, Gas & Water and General Financial sectors led shares higher. At the close in...

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.
 
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
Continue with Google
or
Sign up with Email