- Analytics
- News and Tools
- Market News
- Oil: Summer Breakout set to gather steam at a fast clip – TDS
Oil: Summer Breakout set to gather steam at a fast clip – TDS
FXStreet reports that according to Daniel Ghali, Commodity Strategist at TD Securities, the set-up for a summer breakout is forming.
“An overly cautious policy from OPEC+ has overwhelmingly driven the breakout higher in crude oil prices, more than offsetting concerns about mobility tied to a spreading Delta variant. Monday's stalemate for August production could lead to a significant overshoot in prices during this Summer Breakout.”
“With no increase in production, the forthcoming growth in demand should see global energy markets tighten up at an even faster pace than anticipated. This comes at a time when the cost of capital for traditional swing production has likely permanently risen, which argues for energy supply risk driving prices higher. This impasse will lead to a temporary and significantly larger-than-anticipated deficit, which should fuel even higher prices for the time being.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
