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Market Mood WTI 14.04.20

Market Mood WTI 14.04.20

Market Mood WTI 14.04.20

in Daily Forecasts

Listen to the latest market mood for the WTI.

Once again the market is very firmly focused on COVID19 developments. This morning positive risk sentiment is supported by Governments weighing up when to ease lock down restrictions. US President Trump says the administration is very close to completing a plan to re-open the country and he will know in the next few days when he is ready to re-open the US. This positive sentiment is helping oil this AM.

If we zoom out and take a broad look at oil we can see that the current price of US oil at $22.50 is historically very cheap. Looking forward to when oil demand should recover towards the end of the year would mean that oil prices should be higher at the end of 2020 than now.

  • Therefore, expect long term US oil futures buyers at market and on any drops lower looking to benefit from a long term US oil position.
  • Risk to this outlook: Any fundamental change in the oil market which devalues oil longer term.

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Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of HYCM, a third party or otherwise.

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