Trade of the Week – Crude Oil

Is Oil Heading for $80?
Is Oil Heading for $80?

Crude Oil hit its highest level since December 2014 last week to $67.62 a barrel on the back of the USA threatening to bomb Syria and the actual follow through on this threat happening on Friday night (13th April) with the participation of the UK and France.

Post bombing the oil market reversed and has been falling ever since as market pauses to see if this really is a one hit strike or we will see further escalation from both sides.

It is the politics behind Syria involving big global players that is the real threat to the globally supply of oil that could see the price push beyond the $80 level.

A US withdrawal of the Iran deal and further sanctions on Russia will be the real drivers.

Profitable trading involves identifying the right instruments to trade at the right time and to do this you need to be tuned in to the drivers behind these moves to maximise the opportunity.

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