Crude Oil Trading Strategies and Daily Market Breakdown

USOIL- I'll wait for price rebound to join the buy continuations at 70.00-69 .00 support region.

Usoil is showing rejections at the rectangle level, just wait for a breakout from that rectangle with strong bullish volume before buying

USOIL Trade Update
Bias- Buys
The Second bottom price is forming at that 71.46 region would have been my entry, but I still have some extra details it needs to invalidate before i consider the buys. I want to see a break above 72.47, and an invalidation of that bearish trendline, then join on the rebound.

They have little difference, ukoil is the international benchmark for crude oil, representing oil produced primarily from the North Sea and used to price most of the world's oil.

While

The Usoil is the US benchmark for crude oil, representing oil produced primarily in the United States and used to price oil in the North American market.

Please what's the difference between brent oil and wti crude?

what of the quality, do they have the same quality because is see their prices are different

Oil reacting at the rectangle zone, if oil pushes higher then we will see gold and other pairs doing well

If US Oil is able to break above 72.7-73.00 price level, then we'll still a strong rally to the upside next week. but a break below 71.00, will result in price decline back to 69.00

Please what's the difference between brent oil and wti crude?

Differences Between Brent (UK) Oil, and West Texas Intermediate (US) Oil (part 1)

Their differences is mostly in their Origin, Quality, pricing, and Market influence.

Origin: Brent is an Offshore Oil (Oil fields from North Sea between UK and Norway), while WTI is an Onshore Oil (Oil fields on land in West Texas(New Mexico, North Dakota).

Quality: WTI is lighter to refine than Brent because it has less sulphur and is referred to as a "sweeter Crude" than Brent.

Because it is lighter to refine, it means it is of higher quality and considered technically superior to Brent. that means it's easier and cheaper to refine WTI into products like diesel and gasoline (fuel). This is one reason that attracts buyers to WTI.

Differences Between Brent (UK) Oil, and West Texas Intermediate WTI (US) Oil (part 2)

Pricing: Brent is more expensive than WTI. This is because it is easily exported through sea globally than WTI. and also that's why it's the world's global benchmark (standard price tag), while WTI is the benchmark for US Oil Market.

By global benchmark, it means Most oil producing countries weighs the price of their crude, by Brent price (Reference Price), not WTI.

For Example if Brent = $100 per barrel, and a buyer wants to buy Nigerian crude which is priced at (Brent + $10 per barrel). The final price for the Nigerian Crude Oil = $100+$10 which equals $110 per barrel. and that will be the price of the Nigerian crude Oil. if brent decreases to $50 per barrel, the Nigerian Crude will be priced at $50+$10= $60 per barrel for the Nigerian Crude.

So Local Crude price changes when the global benchmark changes, not when WTI changes.

Since Brent is more expensive than WTI, the Price difference between Brent and WTI is Called the "Brent-WTI spread". This is a very important indicator for oil traders because a wide or narrow spread provides clues where the Supply or demand is changing, and balance between Global oil market and US Oil market.

Both WTI and Brent are priced in US Dollars (global standardization and world reserve currency). This is why changes in DXY influences both Oil prices. But geopolitical events and supply and demand fundamentals often has a larger impact on them than DXY.

They have little difference, ukoil is the international benchmark for crude oil, representing oil produced primarily from the North Sea and used to price most of the world's oil.

While

The Usoil is the US benchmark for crude oil, representing oil produced primarily in the United States and used to price oil in the North American market.

Differences Between Brent (UK) Oil, and West Texas Intermediate (US) Oil (part 3)

Market Influence: Brent Oil is the main benchmark for Europe, Africa and Middle East ( 2/3 of the world's international crude oil trade), while WTI is the main benchmark for North America.

Brent Oil is more sensitive to the following Economic data.

a) OPEC+ production decisions (OPEC Monthly Oil Market Report (MOMR)
b) Geopolitical events in the middle east
c)International Energy Agency (IEA) Oil Market Report (OMR)
d) shipping disruptions and international demand.

WTI (US) Oil is more sensitive to the following Economic data

a) EIA Crude Oil inventories (released every wednesday)
b) API Crude Oil stocks (released every tuesday)
c) ISM Manufacturing PMI.
d) Fundamental data that affects DXY such as FOMC meetings, NFP, CPI also has great impact on WTI.

Overall, Brent reacts more strongly to Opec+ decisions and geopolitical developments while WTI is more sensitive to US. economic data.

Differences Between Brent (UK) Oil, and West Texas Intermediate WTI (US) Oil (part 2)

Pricing: Brent is more expensive than WTI. This is because it is easily exported through sea globally than WTI. and also that's why it's the world's global benchmark (standard price tag), while WTI is the benchmark for US Oil Market.

By global benchmark, it means Most oil producing countries weighs the price of their crude, by Brent price (Reference Price), not WTI.

For Example if Brent = $100 per barrel, and a buyer wants to buy Nigerian crude which is priced at (Brent + $10 per barrel). The final price for the Nigerian Crude Oil = $100+$10 which equals $110 per barrel. and that will be the price of the Nigerian crude Oil. if brent decreases to $50 per barrel, the Nigerian Crude will be priced at $50+$10= $60 per barrel for the Nigerian Crude.

So Local Crude price changes when the global benchmark changes, not when WTI changes.

Since Brent is more expensive than WTI, the Price difference between Brent and WTI is Called the "Brent-WTI spread". This is a very important indicator for oil traders because a wide or narrow spread provides clues where the Supply or demand is changing, and balance between Global oil market and US Oil market.

Both WTI and Brent are priced in US Dollars (global standardization and world reserve currency). This is why changes in DXY influences both Oil prices. But geopolitical events and supply and demand fundamentals often has a larger impact on them than DXY.

I was talking about their technical structure, they are the same. but their pricing is different. Brent is priced higher than WTI that's why on charts the prices are different.

Their market structure is the same because they are both priced in US Dollars.
But for international crude oil trades, Brent is the global benchmark.

Differences Between Brent (UK) Oil, and West Texas Intermediate WTI (US) Oil (part 2)

Pricing: Brent is more expensive than WTI. This is because it is easily exported through sea globally than WTI. and also that's why it's the world's global benchmark (standard price tag), while WTI is the benchmark for US Oil Market.

By global benchmark, it means Most oil producing countries weighs the price of their crude, by Brent price (Reference Price), not WTI.

For Example if Brent = $100 per barrel, and a buyer wants to buy Nigerian crude which is priced at (Brent + $10 per barrel). The final price for the Nigerian Crude Oil = $100+$10 which equals $110 per barrel. and that will be the price of the Nigerian crude Oil. if brent decreases to $50 per barrel, the Nigerian Crude will be priced at $50+$10= $60 per barrel for the Nigerian Crude.

So Local Crude price changes when the global benchmark changes, not when WTI changes.

Since Brent is more expensive than WTI, the Price difference between Brent and WTI is Called the "Brent-WTI spread". This is a very important indicator for oil traders because a wide or narrow spread provides clues where the Supply or demand is changing, and balance between Global oil market and US Oil market.

Both WTI and Brent are priced in US Dollars (global standardization and world reserve currency). This is why changes in DXY influences both Oil prices. But geopolitical events and supply and demand fundamentals often has a larger impact on them than DXY.

Price has reacted from that support level 7563.3. The buys had already started

My goodness- i missed this. USOIl the retest of that zone was a very good entry.

That's an important distinction. I also watch the Brent-WTI spread because when it widens or narrows significantly, it can reveal whether global supply risks or US-specific fundamentals are driving the oil market at that moment.