Crude Oil Futures are up for a fourth consecutive week. Higher prices tempt producers but demand uncertainty lingers, David Chambers from Charles Schwab reports. Key quotes “Reopening economies around the world will likely prove very difficult, so the volatility in oil prices may be far from over. Fears of a second wave linger.” “If oil prices continue to stabilize, producers in the U.S. and OPEC+ may find it difficult to avoid the temptation of re-opening the spigots. Global oil shipping rates have been ticking down which may hint at a moderation in the supply glut.” “Thursday’s RSI above 70 may have hinted at overbought conditions, confirmed by Friday morning’s selloff which brought the RSI reading down to near 50.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD: First sign of rejection from the 200-day average – Credit Suisse FX Street 3 years Crude Oil Futures are up for a fourth consecutive week. Higher prices tempt producers but demand uncertainty lingers, David Chambers from Charles Schwab reports. Key quotes “Reopening economies around the world will likely prove very difficult, so the volatility in oil prices may be far from over. Fears of a second wave linger.” “If oil prices continue to stabilize, producers in the U.S. and OPEC+ may find it difficult to avoid the temptation of re-opening the spigots. Global oil shipping rates have been ticking down which may hint at a moderation in the supply glut.” “Thursday’s RSI above 70 may… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
