At the latest OPEC+ meeting, Saudi Energy Minister said OPEC+ will do "whatever is necessary" to support the oil market. Since the start of the year, many analysts were optimistic about oil prices. China’s post-Covid-19 recovery was expected to boost demand as was reduced supply from Russia as Western sanctions were meant to impact Russian oil levels getting to market. However, the first half of the year saw continually weaker prices for oil. So, what does the rest of the year hold for oil? In many ways, it feels that much of the bad news has already been priced in. However, could there further fall ahead on possibly even higher interest rates? Looking at the seasonals is interesting. Over the last 15 years, between July 11 and Dec 18, oil prices have fallen over 50% of the time for an average fall of 14.66%. So, will oil bottom, or will weal seasonals give oil another shove lower this year?
Major Trade Risks: • The main risk here would be that inventory levels fall and global demand picks up lifting oil prices bucking the seasonal trend.
Disclaimer: Past results and past seasonal patterns are no indication of future performance, in particular, future market trends. seasonax GmbH neither recommends nor approves of any particular ...
Disclaimer: Past results and past seasonal patterns are no indication of future performance, in particular, future market trends. seasonax GmbH neither recommends nor approves of any particular financial instrument, group of securities, segment of industry, analysis interval or any particular idea, approach, strategy or attitude nor provides consulting nor brokerage nor asset management services. seasonax GmbH hereby excludes any explicit or implied trading recommendation, in particular, any promise, implication or guarantee that profits are earned and losses excluded, provided, however, that in case of doubt, these terms shall be interpreted in abroad sense. Any information provided by seasonax GmbH or on this website or any other kind of data media shall not be construed as any kind of guarantee, warranty or representation, in particular as set forth in a prospectus. Any user is solely responsible for the results or the trading strategy that is created, developed or applied. Indicators, trading strategies and functions provided by seasonax GmbH or on this website or any other kind of data media may contain logical or other errors leading to unexpected results, faulty trading signals and/or substantial losses. seasonax GmbH neither warrants nor guarantees the accuracy, completeness, quality, adequacy or content of the information provided by it or on this website or any other kind of data media. Any user is obligated to comply with any applicable capital market rules of the applicable jurisdiction. All published content and images on this website or any other kind of data media are protected by copyright. Any duplication, processing, distribution or any form of utilisation beyond the scope of copyright law shall require the prior written consent of the author or authors in question. Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.
