Oil markets are moving lower as traders wait for news on U.S. – Iran talks.
W&T Offshore, Inc. (WTI) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, WTI's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross.
W&T Offshore (WTI) is rated a buy, with optimal entry at or just below $2.00, leveraging high sensitivity to crude price movements. WTI's strategy centers on acquiring and revitalizing mature Gulf of Mexico assets, extracting additional value through workovers and advanced technology. Balance sheet strength is improving: net debt reduced to under $226M, liquidity at $250M, and operational cash flow supports ongoing dividends.
Oil prices rebound on geopolitical risk as WTI holds $64 resistance, while natural gas consolidates above $3.15 with bullish structure still intact.
U.S. Navy shot down the drone that was moving towards an aircraft carrier.
Does W&T Offshore (WTI) have what it takes to be a top stock pick for momentum investors? Let's find out.
Oil prices surged last week as geopolitical risk linked to Iran intensified and speculative positioning adjusted, pushing the curve back into backwardation. While supply constraints and OPEC+ delivery issues continue to underpin prices, rising onshore storage and upcoming U.S. inventory data present clear downside risks should the risk premium fade.
Oil traders worry that U.S. may strike Iran in the next few days.
According to recent reports, production will be stopped for 7-10 days.
West Texas Intermediate crude oil prices fell on Wednesday as pressure from geopolitical tensions and an expected build up in U.S. crude inventories outweighed a temporary halt in output at two large fields in Kazakhstan.
Oil markets are moving higher despite trade war worries.
In this report, I will analyse the Hamm's Bakken shutdown, BP's green write-downs, the US–EU Greenland tariff dispute and a significant WTI COT short setup. I will then provide my insights on the implications of these factors for crude, spreads and natural gas trades into next week.