Commodities Analysis by Investing.com (Barani Krishnan) covering: Brent Oil Futures, Crude Oil WTI Futures, Heating Oil Futures, ProShares UltraShort Bloomberg Crude Oil. Read Investing.com (Barani Krishnan)'s latest article on Investing.com
Oil prices are nearing the $90 mark, with strong momentum suggesting a potential push to break this threshold.
Typically, at this time of year, crude prices would retreat slightly, sometimes meaningfully, in tandem with lower demand in the world’s largest oil consumer. “That there is still plenty of momentum so close to $90 a barrel may suggest we could see a strong push to break above which would represent a big shift in the market dynamic in quite a short period of time,” analysts at Oanda wrote in a note.As said earlier, with the advent of fall or autumn, US driving activity will begin to lessen, and the deceleration will heighten as the weather gradually turns colder, heading into the winter months.
The idea is to create such an artificially short supply that the trade simply cannot function in a normal way.
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