WTI Crude Oil Futures Slide as Tariff Talks Whipsaw Markets

Energy Update

/ by Blue Line Futures

WTI Crude Oil Futures Slide as Tariff Talks Whipsaw Markets

WTI Crude Oil Futures (April) 

Yesterday’s Settlement: 68.26, down -0.11 [-0.16%] 

Global markets were whipsawed by tariff headlines yesterday as rumors swirled about a 100% tariff on Taiwan Semi Conductor that was followed by a headline that President Trump may roll back Canadian / Mexico tariffs right away if they choose to act.

Headlines and trade policy remain unpredictable, making the trading environment difficult. Headlines are being written on a whim from shaky sources, and they are moving markets. 

While the rollback of Mexico / Canada tariffs might be bullish for equity markets, it is  bearish for WTI crude oil markets. 

Today, April Futures are lower by -1.52 [-2.23%] to 66.74

Futures are trading lower today on the news that Canadian & Mexican tariffs may be put on hold. Markets are also continuing to digest OPEC+’s output hikes amidst the constant barrage of headlines.

Remember that in our note yesterday, we mentioned a headline that the Trump Administration was looking for avenues to ease Russian sanctions. This potential bearish catalyst hangs in the background. Zelensky has been apologetic since his Oval Office debacle and yesterday sounded open to negotiations with Russia.  

Elsewhere, the Israel-Hamas ceasefire is nearing an end. Israel’s tone over the past two weeks hasn’t really signaled much willingness to extend the ceasefire. 

Technical Analysis:

Volatility remains unpredictable, coming at the drop of a headline. Some of these headlines are related to meaningful fundamental catalysts while some headlines are proving to be click-bait.

As we said yesterday, Crude markets are now awash in bearish catalysts and headlines, and now, the retracement of Mexico / Canada tariffs can be added to that list.

In this environment, I favor a hands-off approach until something changes. We’re looking to take advantage of large, knee-jerk price moves intraday while keeping sizing and risk small. Options markets can be utilized for risk-defined positioning if traders want to sit on a position for an elongated time-frame. Sizing and risk management are key to these trading environments – don’t get married to positions or a thesis.      

For intraday trading, our pivot and point of balance is set at….

 

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians, or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.

With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy, and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third-party application. Blue Line Futures employees use only firm-authorized email addresses and phone numbers. If you are contacted by any person and want to confirm your identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500

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