Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
31 Dec 2019

WTI: Bulls regain poise, $62 back on sight ahead of API

  • Oil supported by weaker USD, OPEC+ supply cuts and trade optimism.
  • September highs above $63 still on sight, as 2019 draws to an end.
  • Markets await API Crude Stocks data amid New Year’s Eve quiet trading.

WTI (oil futures on NYMEX) is trading modestly flat above $61.50, having reversed a brief dip to $61.39 lows. The bulls have fought back control amid a fresh round of selling seen in the US dollar versus its main competitors.

The optimism around the US-China phase one trade deal signing continues to undermine the sentiment around the safety bet, the greenback, with the US dollar index now testing the five-month lows of 96.61. The index is down -0.13% on the day. A weaker buck makes the USD-denominated oil cheaper for the holders in foreign currencies.

Despite the flat trading so far this Tuesday, the black gold is set to post its biggest annual rise since 2016, mainly supported by continued de-escalation of the US-China trade tensions and OPEC and its allies (OPEC+) supply cuts extension.

Additionally, persisting US-Middle East geopolitical tensions also caps the downside attempts in the barrel of WTI. “Tensions remain high in the Middle East after U.S. airstrikes on Sunday against the Katib Hezbollah militia group in Iraq and Syria”, as cited by Reuters.

Markets now look forward to the American Petroleum Institute’s (API) weekly Crude Stocks data due at 2130 GMT for fresh trading incentives, in light of year-end slowing volumes.

WTI Technical levels to consider

 

Dec 31, 2019

Asia: A better growth backdrop – ANZ

Analysts at ANZ suggest that for 2020, the outlook for Asian currencies look more promising as they expect the headwinds of this year to fade. Key Quo
Read more Previous
Dec 31, 2019

Greece Retail Sales (YoY) increased to 7.1% in October from previous 5.1%

Greece Retail Sales (YoY) increased to 7.1% in October from previous 5.1%
Read more Next