Crude Oil Outlook: Bullish Catalysts Emerge Amid Geopolitical Tensions

Energy Update

/ by Blue Line Futures

Crude Oil Outlook: Bullish Catalysts Emerge Amid Geopolitical Tensions

***ANALYSIS & LEVELS ROLLED TO MAY FUTURES

 

*** Bias shift to Neutral / Bullish from Neutral


WTI Crude Oil Futures (May)

 

Yesterday’s Settlement: 66.91 up +0.16 [+0.24%]

 

WTI Crude oil futures settled marginally higher yesterday. Crude settlement is made official at 1:30pm CST, right when the Fed meeting began.

 

The Fed yesterday issued a hawkish and darkened outlook on the U.S. economy yesterday alongside a more elevated forward path of their projected “neutral” rate. Despite this, equity markets rallied after the meeting. At this point, it looks like most of this negative sentiment has been priced in, at least in equity markets.

 

The Russian – Ukraine ceasefire has all but fallen through while Israel continues to lash out against Middle Eastern foes military. The upside to crude still looks attractive.

 

Today, May Futures are lower by -0.04 to 66.87

 

Yesterday’s EIA report showed a strong surge in U.S. exports of petroleum and petroleum products. The Russian – Ukraine ceasefire looks to be in serious jepordy as Russia struck Ukrainian energy assets overnight. Alongside the Middle Eastern conflict ramping, catalysts are trending bullish.

 

The one deterrent to our more bullish tilt is the possibility of a Dollar strength coming through. With the Fed’s higher outlook for their neutral rate, flows into U.S. treasury’s once this government shutdown is sorted out could reverse the dollar weakness we’ve seen to start the year

Technical Analysis:

***ANALYSIS AND LEVELS ROLLED TO MAY CONTRACT
***Bias upgraded to Neutral / Bullish from Neutral

 

We remain tactically bullish on our bias through the end of the week. Technically futures remain in our highlighted trading range by the chart above. 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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