Oil and Gas

Earlier today, the Organization of Petroleum Exporting Countries (OPEC) and their partner countries announced that higher production cuts until March 2010. The existing agreement is for the cartel as a whole to cut back production by 1.2 million barrels per day. Now, in an effort to prop up oil prices, OPEC+ will now cut daily […]

Canadian Overseas Petroleum Limited shares (LSE:COPL) are currently consolidating, in apparent weakness. A breakout is imminent. Looking at price more closely, it can be seen that the market is making weak attempts to rally, but that effort pales into insignificance when compared to the ongoing sideways movement. Bulls are intent on pushing price upwards but […]

Petrel Resources shares (LSE:PET) are in an uptrend, as price is trying to recover from its recent losses. The first target is the resistance level at 10.00 and the second target is at the resistance level of 20.00. Since the market moved above the upper Trendline in November 2019, the rally has become strong as […]

Weekly COT Report: Sterling Traders The Least Bearish In 3-Months As of Tuesday 8th October: Traders increased net-long exposure for a 4th consecutive week by $0.8 billion. The Euro saw the largest weekly change among FX majors, seeing net-short exposure increase by 9.4k contracts. Large speculators were their least bearish on the British pound in 3 […]

Oil spiked higher on reports that an Iranian oil tanker was hit by two missiles off the Saudi coast, according to an Iranian state television. The vessel is currently ablaze and leaking oil 60 miles off coast. Crude oil futures broke above $54 resistance and currently trade around $54.56. Whilst one may have expected a […]

Bahamas Petroleum Company shares (LSE:BPC) have broken upwards after several months of a boring ranging movement. The shares dropped like a stone in March 2015, only to consolidate till August 2019. Recently, there has been a significant bullish breakout, which means the market may go further upwards. The market is clearly above the EMA 21, […]

It’s not been a great couple of months for oil prices. And, currently on track for its worst week this year, we suspect there are further losses to come. News that the US had ‘destroyed’ an Iranian drone saw Brent rally 2% during the Asia session, yet we’re far convinced this will be enough to […]

Tomco Energy stock (LSE:TOM) has experienced a bullish breakout following a protracted and boring ranging movement, which lasted for several months. There was a gradual bullish movement towards the end of June 2019, which translated into a significant upside movement in early July. There has been some bearish retracement in the market, but that may […]

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Oil prices can heavily influence the auto industry – and it’s pretty obvious why. If petrol or diesel costs rise, people may be less inclined to buy a car. After all, they are having to spend more of their disposable income on fuel. But what other ways do oil prices affect the motor sector?   […]