UWTI headed to $28-30 in a week if dollar doesnt strenghten much

8 בספט׳ 2016

Today's oil stockpiles report is bullish and possibly will have positive effect on the oil price. Not really sure what caused such a draw in the supplies, but looks good. OPEC talks this month also will affect the price positively if we see some good headings. Taking these in consideration $50 oil is not so far away, so is the UWTI price of $30. Now the bad - USD is looking to strengthen, OPEC may not deliver with talks and we might go back to $43-44 oil.