Home > Boards > Commodities > Energy > Oil & Gas - Energy - Commodities - Resources

Crude oil seasonal slump coming soon

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DiscoverGold Member Profile
Followed By 141
Posts 53,459
Boards Moderated 37
Alias Born 03/10/04
160x600 placeholder
DiscoverGold   Friday, 09/06/19 08:10:19 AM
Re: None
Post # of 4439 
Crude oil seasonal slump coming soon
By: Almanac Trader | September 5, 2019

Seasonally speaking, crude oil tends to make significant price gains in the summer, as vacationers and the annual trek of students returning to college in August creates increased demand for unleaded gasoline. The market can also price in a premium for supply disruptions due to threats of hurricanes in the Gulf of Mexico. However, towards mid-September, we often see a seasonal tendency for prices to peak out, as the driving and hurricane seasons begin to wind down. Crude oil’s seasonal decline is highlighted in yellow in the above chart.

Last year crude peaked nearly right on cue, in late-September/early-October just shy of $75 per barrel. When the decline ended in December, crude traded under $45 per barrel. From late-December until late April crude recovered to trade over $65 per barrel. The trend since then has been lower and that trend looks poised to continue and potentially accelerate. A persistently firm U.S. dollar is likely to limit upside while ongoing trade troubles and slowing growth are likely to dampen demand.

Read Full Story »»»


Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist