Crude Oil is facing the headwinds amid Cornovirus as Global Demand at the all time low.

Crude Oil Demand hits due to outbreak of Coronavirus

First of all, I would like to offer prayers for everyone fighting with outbreak of Cornovirus. Countries like Italy & USA facing worst hits in the days and weeks to come. I hope things get settled as we totally depends on nature to help us to get out of this crisis. Ofcourse, we have power and will to fight anything as we have done so far & I’m sure there would be help coming out of heavens to help us recover and stay healthy.

As I mentioned in my last post of Crude oil futures, where I wrote about the target of Crude oil around $26 a barrel, but as we get to the target too early than I first anticipated or expect, But now as things are getting pretty ugly globally, I don’t expect there would be any demand of Crude Oil inventories for the next few months and we will see lowest crude oil price in the months to come.

Trump seems to fuel the Crude market with comments that He will try and set conflicts between OPEC & Russia, but soon comment from Russian camp came through where we witness that Russia is in no mood to favor any alliance with OPEC & favor Production Cut. Product Cut ? Seriously ! Manufacturing units are shutting due to cornovirus & World’s Tourism is getting a hit as Borders getting closed.

Related Posts

Why Forex traders fail The truth behind success and failure

Forex strategies ways to find imbalance on a currency chart Everyone in this financial market looking to make profits and they work very hard to succeed and…

Useful steps to choose before choosing a trading system—-See the facts you need to know before relying on traditional methods

How to build a powerful trading system Forex price action strategies ——Never use failure price action techniques like fibos, trendlines and candles as price never react at…

Trading Australian Employment data -Price Action suggesting to short

Price Action in Australian dollar is quite rangebound as it can be expected due to high impact release of Australian employment data. What will be hit first…

Usdcad pending sell around 1.2910 Technical Analysis

Forex Price Action Supply and demand Analysis Price has managed to breach the crucial demand level 1.2810. We can see retest with compression on h4 time frames,but…

Forex Trading Tools for Advanced Traders

Money isَ a typical denominator. With its assisَtance, our life isَ made higher. Daily routine isَ regard experiencing. Money offers an individual the need of the center…

Forex what reason is everybody purchasing gold with deteriorating financial conditions?

How to build a winning Forex trading system?90% of Forex merchants fail in the initial not many months. The rest get consisَtent pay, yet they continually pay…

Leave a Reply

Your email address will not be published. Required fields are marked *