Market Sentiments

WTI Crude Oil-US Cruide Oil-West Texas Intermediate Crude Oil or US Crude Oil
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EUR

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USD

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WTI Crude Oil, also known as West Texas Intermediate Crude Oil, is a type of crude oil that serves as a benchmark for oil pricing in the United States. It is one of the most actively traded commodities in the world and plays a crucial role in the global energy market.

Key Data

Here are some important key data points related to WTI Crude Oil and US Crude Oil:

  • Price: The price of WTI Crude Oil is used as a reference point for oil trading. It is quoted in US dollars per barrel and fluctuates based on supply and demand dynamics, geopolitical events, economic factors, and market sentiment.
  • Production: The United States is one of the largest producers of crude oil globally. It has experienced significant growth in production due to technological advancements in shale oil extraction, making it less dependent on imports.
  • Consumption: The US is also one of the largest consumers of crude oil, driven by its industrial, transportation, and residential sectors. Changes in consumption patterns can have a direct impact on global oil prices.
  • Inventories: Weekly inventory reports provide insights into the stockpile levels of crude oil in the US. High inventories may indicate oversupply and put downward pressure on oil prices, while low inventories may lead to price increases.
  • Oil Rig Count: The number of active oil rigs in the US, as reported by oilfield services companies like Baker Hughes, is an important indicator of future production levels. A higher rig count suggests increased drilling activity and potentially higher oil output.
  • Exports and Imports: The US exports and imports crude oil to meet its energy demands. Changes in export or import policies, geopolitical tensions, or disruptions to supply routes can impact global oil flows and prices.

Understanding these key data points and keeping track of their changes is crucial for investors, traders, and policymakers involved in the oil market. WTI Crude Oil and US Crude Oil serve as vital indicators of global energy trends and can have significant implications for the overall economy.

 

WTI Crude Oil, also known as West Texas Intermediate Crude Oil or US Crude Oil, is one of the most widely traded and benchmarked commodities in the world. It serves as a crucial indicator of global economic health and influences various sectors such as energy, transportation, and finance.

What is WTI Crude Oil?

WTI Crude Oil refers to a type of crude oil that is extracted from the Permian Basin in West Texas. It is known for its relatively high quality and low sulfur content, making it a desirable form of oil for refining into gasoline and other petroleum products. WTI Crude Oil is primarily traded on the New York Mercantile Exchange (NYMEX) under the ticker symbol “CL.”

Benchmark Status

WTI Crude Oil holds benchmark status within the oil industry. The prices of other crude oils worldwide are often quoted with reference to the price of WTI Crude Oil. This benchmark status is due to multiple factors, including its high liquidity, consistent quality, and the presence of a robust futures market.

Factors Influencing WTI Crude Oil Prices

Several factors impact the price of WTI Crude Oil:

  • Supply and demand dynamics: Changes in production levels, geopolitical tensions, and global economic growth significantly affect WTI Crude Oil prices.
  • Global events: Geopolitical events, conflicts, and natural disasters can disrupt oil supply or lead to increased demand, resulting in price fluctuations.
  • OPEC decisions: As a significant player in the oil market, decisions made by the Organization of the Petroleum Exporting Countries (OPEC) can have a substantial impact on WTI Crude Oil prices.
  • US Dollar strength: As WTI Crude Oil is priced in US dollars, fluctuations in the value of the currency can influence its price.

Importance in the Energy Sector

The energy sector relies heavily on WTI Crude Oil prices. It affects gasoline and diesel prices, which, in turn, impact transportation costs for businesses and consumers. The profitability of oil exploration and production companies is also influenced by WTI Crude Oil prices. Additionally, trends in WTI Crude Oil prices often indicate the overall health of the global economy.

Investing in WTI Crude Oil

Investors who wish to gain exposure to WTI Crude Oil can do so through various financial instruments such as futures contracts, exchange-traded funds (ETFs), or even direct investment in oil-producing companies. However, it’s important to note that investing in commodities involves risks, including volatility and market uncertainty.

Conclusion

WTI Crude Oil plays a pivotal role in the global economy, serving as a benchmark for oil prices worldwide. Its supply and demand dynamics are influenced by multiple factors, making it an essential commodity to monitor for governments, businesses, and investors alike. Understanding WTI Crude Oil helps in gaining insights into the energy sector, economic trends, and global financial markets.

Fundamental Summary

WTIUSD

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Short

Strength

WTIUSD

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Short

Strength

WTIUSD

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Short

Strength

WTIUSD

0.00000

Short

Strength

WTIUSD

0.00000

Short

Strength

WTIUSD

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Long

Strength

WTIUSD

0.00000

Long

Strength

WTIUSD

0.00000

Long

Strength

  • WTIUSD

    Minute5

    short

    Resistance5 85.53600
    Resistance4 84.96500
    Resistance3 84.62700
    Resistance2 84.43600
    Resistance1 83.06700
    Quote Price 0.00000
    Support1 80.50000
    Next Trade
    2023-10-31 16:00:50

  • WTIUSD

    Minute15

    short

    Resistance5 87.97800
    Resistance4 86.01400
    Resistance3 85.53600
    Resistance2 84.43600
    Resistance1 83.06700
    Quote Price 0.00000
    Support1 80.50000
    Next Trade
    2023-10-31 16:00:17

  • WTIUSD

    Minute30

    short

    Resistance5 87.97800
    Resistance4 86.01600
    Resistance3 85.53600
    Resistance2 84.43600
    Resistance1 83.06700
    Quote Price 0.00000
    Support1 80.50000
    Next Trade
    2023-10-31 16:00:51

  • WTIUSD

    Hour1

    short

    Resistance5 92.10000
    Resistance4 90.87000
    Resistance3 89.60800
    Resistance2 85.53600
    Resistance1 83.06700
    Quote Price 0.00000
    Support1 80.50000
    Next Trade
    2023-10-31 16:00:53

  • WTIUSD

    Hour4

    short

    Resistance3 93.96300
    Resistance2 89.60800
    Resistance1 85.53600
    Quote Price 0.00000
    Support1 80.50000
    Support2 77.51500
    Support3 74.48200
    Next Trade
    2023-10-31 16:00:56

  • WTIUSD

    Daily

    long

    Resistance3 97.24500
    Resistance2 93.96300
    Resistance1 89.60800
    Quote Price 0.00000
    Support1 80.50000
    Support2 77.51500
    Support3 66.93800
    Next Trade
    2023-10-31 16:00:58

  • WTIUSD

    Weekly

    long

    Resistance4 7.89000
    Resistance3 33.81600
    Resistance2 61.71700
    Resistance1 62.31300
    Quote Price 0.00000
    Support1 93.96300
    Support2 126.37000
    Next Trade
    2023-10-29 16:01:29

  • WTIUSD

    Monthly

    long

    Resistance2 7.89000
    Resistance1 63.95900
    Quote Price 0.00000
    Support1 93.96300
    Support2 126.37000
    Support3 147.27000
    Next Trade
    2023-10-31 16:01:00
    Coming soon!!

Technical Summary

WTIUSD

0.00000

Short

Strength

WTIUSD

0.00000

Short

Strength

WTIUSD

0.00000

Short

Strength

WTIUSD

0.00000

Short

Strength

WTIUSD

0.00000

Short

Strength

WTIUSD

0.00000

Long

Strength

WTIUSD

0.00000

Long

Strength

WTIUSD

0.00000

Long

Strength

  • WTIUSD

    Minute5

    short

    Resistance5 85.53600
    Resistance4 84.96500
    Resistance3 84.62700
    Resistance2 84.43600
    Resistance1 83.06700
    Quote Price 0.00000
    Support1 80.50000
    Next Trade
    2023-10-31 16:00:50

  • WTIUSD

    Minute15

    short

    Resistance5 87.97800
    Resistance4 86.01400
    Resistance3 85.53600
    Resistance2 84.43600
    Resistance1 83.06700
    Quote Price 0.00000
    Support1 80.50000
    Next Trade
    2023-10-31 16:00:17

  • WTIUSD

    Minute30

    short

    Resistance5 87.97800
    Resistance4 86.01600
    Resistance3 85.53600
    Resistance2 84.43600
    Resistance1 83.06700
    Quote Price 0.00000
    Support1 80.50000
    Next Trade
    2023-10-31 16:00:51

  • WTIUSD

    Hour1

    short

    Resistance5 92.10000
    Resistance4 90.87000
    Resistance3 89.60800
    Resistance2 85.53600
    Resistance1 83.06700
    Quote Price 0.00000
    Support1 80.50000
    Next Trade
    2023-10-31 16:00:53

  • WTIUSD

    Hour4

    short

    Resistance3 93.96300
    Resistance2 89.60800
    Resistance1 85.53600
    Quote Price 0.00000
    Support1 80.50000
    Support2 77.51500
    Support3 74.48200
    Next Trade
    2023-10-31 16:00:56

  • WTIUSD

    Daily

    long

    Resistance3 97.24500
    Resistance2 93.96300
    Resistance1 89.60800
    Quote Price 0.00000
    Support1 80.50000
    Support2 77.51500
    Support3 66.93800
    Next Trade
    2023-10-31 16:00:58

  • WTIUSD

    Weekly

    long

    Resistance4 7.89000
    Resistance3 33.81600
    Resistance2 61.71700
    Resistance1 62.31300
    Quote Price 0.00000
    Support1 93.96300
    Support2 126.37000
    Next Trade
    2023-10-29 16:01:29

  • WTIUSD

    Monthly

    long

    Resistance2 7.89000
    Resistance1 63.95900
    Quote Price 0.00000
    Support1 93.96300
    Support2 126.37000
    Support3 147.27000
    Next Trade
    2023-10-31 16:01:00

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